Manufacturing and services have slumped to the lowest level since 2020, data shows

Business activity in the Eurozone took another hit in August as the bloc’s economic downturn extended from the manufacturing to the services sector, data compiled by S&P Global revealed this week.

HCOB’s flash Composite Purchasing Managers’ Index (PMI) for the bloc, a measure reflecting manufacturing and services activity, slumped to its lowest level since November 2020 to 47.0, from 48.6 in July.

The reading was well below the 50-mark separating growth from contraction, and lower than economists’ expectations of 48.5. ....more below

https://www.rt.com/business/581785-eurozone-business-activity-falling/