Following the resurgence of the coronavirus infection rates, the euro area private sector stagnated in September as faster growth in manufacturing was offset by a renewed downturn in the service sector, flash survey data from IHS Markit showed Wednesday.
The composite output index declined to 50.1 in September from 51.9 in August. Economists had forecast the reading to drop to 51.7.
Having rebounded in July and August from Covid-19 lockdowns during the second quarter, the PMI has since indicated a near stalling of the economy as rising infection rates and ongoing social distancing measures curbed demand.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.