Driven by the deepening downturn in both services and manufacturing activity, the euro area private sector shrank for the fifth month in a row in October with output falling the most over a decade if the pandemic period is excluded.
The flash composite output index posted 46.5 in October, down from 47.2 in September, the purchasing managers' survey data from S&P Global and Hamburg Commercial Bank AG showed on Tuesday.
Excluding the pandemic months, private sector activity shrunk the most since March 2013.
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by Renju Jaya
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