The euro area manufacturing sector ended the year firmly in the contraction territory due to the sustained decline in new orders and output, strongly supporting the view that the region has entered a recession at the end of 2023.
Driven by the deepening downturn in both services and manufacturing activity, the euro area private sector shrank for the fifth month in a row in October with output falling the most over a decade if the pandemic period is excluded.
Driven by the deepening downturn in both services and manufacturing activity, the euro area private sector shrank for the fifth month in a row in October with output falling the most over a decade if the pandemic period is excluded.
The activity in the German private sector continued to contract in September despite improving slightly compared to the previous month, a preliminary report by S&P Global and Hamburg Commercial Ba.
Signaling the risk of a recession, the euro area private sector activity declined at the fastest pace in eight months in July as the downturn gathered pace at the start of the third quarter.