The euro area private sector contracted at the fastest pace in almost two years in October signaling that the currency bloc is sliding into a recession, final survey results from S&P Global showed on Friday.
The final composite output index fell to 47.3 in October from 48.1 in September. The score was slightly above the flash 47.1. The latest reading was the lowest since November 2020.
The PMI reading has remained below the neutral 50.0 mark for the fourth straight month.
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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.