Euro slips below 1.10 line German and eurozone manufacturing PMIs contract The euro is down sharply on Tuesday. In the European session, EUR/USD is tradin
The euro area manufacturing sector continued to contract at the end of the year with fall in output and job losses, final data from S&P Global showed on Tuesday.
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.
The euro area private sector contracted throughout the second half of the year adding to risk of recession since the third quarter, preliminary results of the purchasing managers' survey showed on Friday.
The ongoing downturn in the euro area private sector suggested that the region might have entered a shallow recession in the final quarter of 2023, according to the latest purchasing managers' survey results released by S&P Global on Thursday.