Private sector business activity across the euro area fell at the sharpest pace since January 2021 in September, extending the downturn into a third straight month. Output in both the manufacturing and service sectors fell at a quicker rate as high inflation, soaring energy costs, rising economic uncertainty and weakening demand drove the euro area economy into a deeper contraction. Total new orders fell to the greatest extent in almost two years, while a considerable drop was seen in export sales. Employment growth continued to slow in September, reflecting a lack of incoming new work and a sustained drop in the ... (full story)