Euro-Zone Private Sector Back in Contraction on Factory Slump
- Composite PMI slips to 48.9 from 51; economists saw 50.5
- German manufacturing, French services drag down bloc’s reading
This article is for subscribers only.
The euro area’s private-sector economy shrank for the first time since March, with the end of France’s Olympic boost and a deepening manufacturing downturn heightening concerns that the region’s recovery has run out of steam.
The composite Purchasing Managers’ Index by S&P Global dropped to 48.9 in September from 51 the previous month — below the 50 threshold separating growth from contraction, data Monday showed. Analysts had expected the measure to slip only marginally, to 50.5.