Indicators
Euro-Zone Slump Deepens With Recession Odds ‘Notably High’
- December composite PMI index falls to 47; estimate was 48
- ‘The figures paint a disheartening picture of the euro zone’
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Private-sector activity in the euro area worsened at the end of the year, raising the risk that the region may experience a recession in the second half.
S&P Global’s purchasing managers’ index contracted for a seventh month in December, falling to 47. That defied economist expectations of a slight uptick — though they still predicted that the gauge would remain well below the 50 level that marks expansion. Readings for both manufacturing and services showed a slump.