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The German service sector slipped back into contraction in October, with the HCOB final services Purchasing Managers' Index (PMI) falling to 48.2. This contraction is attributed to persistent weakness in demand. The Eurozone economy also started Q4 on a weak note, stoking recession fears, as the Eurozone Composite PMI pointed to the sharpest decline in private sector activity in nearly 3 years. This led firms to cut staff for the first time since early 2021. European Central Bank vice-president Luis de Guindos expects the Eurozone economy to contract or stagnate in Q4.
Euro zone producers prices inch up in September - Reuters https://t.co/z9EIJYsnWk
Eurozone economy to contract or stagnate in Q4, ECB's De Guindos says https://t.co/D6AEG3S8Hp https://t.co/8zAllrMZeu
β οΈ EUROZONE ECONOMY TO CONTRACT OR STAGNATE IN Q4, ECB'S DE GUINDOS SAYS Full Story β https://t.co/qw7a7sRnmT
πͺπΊ ECB's de Guindos expects low growth or economic standstill in Q4 in eurozone (Reuters) - European Central Bank vice-president Luis de Guindos said on Tuesday the ECB expects an economic contraction or a standstill in the fourth quarter in eurozone. https://t.co/3eCBBIBy6d
Eurozone Composite #PMI pointed to the sharpest decline in private sector activity for nearly 3 years in October (46.5; Sep: 47.2), leading firms to cut staff for the first time since early-2021. https://t.co/y2TxCwpeAH
Euro zone recession fears harden - Reuters https://t.co/GQ92ZoaTng
Euro zone economy started Q4 on back foot, stoking recession fears -PMI https://t.co/kOvhJJcBy8 https://t.co/yC35BNCjHR
π©πͺ GERMAN SERVICE SECTOR ACTIVITY CONTRACTS IN OCTOBER - PMI The German service sector slipped back into contraction in October amid persistent weakness in demand, a survey showed on Monday. The HCOB final services Purchasing Managers' Index (PMI) fell to 48.2 in October fromβ¦ https://t.co/ygMVi2KjZg https://t.co/Fzdcm61xEH