Indicators
Euro-Zone Downturn Deepens, Making Recession More Likely
- Composite PMI falls to 47.1, economists had expected 47.6
- Steepest downturn in manufacturing, services fall accelerates
Storage tanks at a chemicals plant in Herten, Netherlands.
Photographer: Olivier Matthys/BloombergThis article is for subscribers only.
Private-sector activity in the euro zone contracted for a fourth month in October, reinforcing expectations that the bloc is headed for a recession.
An index of purchasing managers compiled by S&P Global slumped to its lowest level since April 2013, barring months when there were Covid-19 lockdowns. That was worse than economists had anticipated as record inflation hurts demand and some firms rein in production on weaker sales.