Economics
Euro-Area Economy Puts Another Dent in ECB Hopes for Rebound
- Composite PMI falls to lowest level in almost four years
- Forward-looking indicators ‘worryingly subdued:’ IHS Markit
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The euro-area economy stumbled again this month, with a key indicator falling to the lowest in four years, denting expectations for an economic pickup after a summer slowdown.
Adding to worries, the composite PMI from IHS Markit also showed that employment and orders growth slowed and companies’ expectations dropped. The euro, which plunged earlier after a weak reading in Germany, was down 0.3 percent against the dollar.