November 2022
The downturn in euro zone business activity eased slightly in November but overall demand continued to decline as consumers cut spending amid a cost of living crisis, a survey showed today.
There has been mounting evidence the bloc is entering a recession and in a Reuters poll this week economists gave a 78% chance of one within a year, with GDP expected to fall 0.4% this quarter and next.
S&P Global's flash Composite Purchasing Managers' Index (PMI), seen as a good gauge of overall economic health, nudged up to 47.8 from 47.3 in October, confounding expectations for a fall to 47 in a Reuters poll.
However, November is the fifth month the index has been below the 50 mark separating growth from contraction.
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Source:
www.rte.ie