European Manufacturing Sector Has Tipped Into Recession ...Middle East

OILPRICE - Economy
European Manufacturing Sector Has Tipped Into Recession
source : OILPRICE ( Middle East ) () 26
The eurozone manufacturing sector has tumbled into recession, driven by customers slashing spending in response to soaring prices and higher interest rates, a closely watched survey out today suggests. S&P Global’s final manufacturing purchasing managers’ index (PMI) for the 19 countries using the euro fell to 46.4 last month, down from 48.4 in September. The reading was revised down from an earlier estimate and came in below analysts’ expectations. It also signalled eurozone factory output is shrinking quickly. The PMI has…

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