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Euro-Zone Activity Shrinks for Second Month on Price Squeeze

  • Composite PMI declines to 49.2; estimate was for 49.0
  • Data point to contraction in third quarter as demand ebbs
Bloomberg business news
WATCH: Euro-area economic activity declined. Lizzy Burden reports.Source: Bloomberg
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Euro-area economic activity declined for a second month, signaling that fears of a recession may already be coming to pass as record inflation saps demand and weakness seeps into more and more sectors.