Eurozone Economic Contraction Intensifies in October

26 October 2022

The seasonally adjusted S&P Global Eurozone PMI® Composite Output Index fell from 48.1 in September to 47.1 in October, according to the preliminary ‘flash’ reading based on approximately 85% of usual survey responses. The PMI has now registered below the neutral 50.0 level, indicating falling business activity levels, for four consecutive months. The rate of decline has accelerated over this period to reach the fastest since November 2020. Excluding pandemic lockdown months, the latest reading was the lowest since April 2013.
Manufacturing, and energy intensive sectors in particular, reported the steepest output loss, but services activity also continued to fall at an accelerating rate amid the ongoing cost of living crisis and broad-based economic uncertainty.
Source:  S&P Global
Post by: Republic of Türkiye Ministry of Trade