The eurozone economy ended the third quarter with another contraction in business activity, latest HCOB PMI® survey data compiled by S&P Global showed, as output volumes across both the manufacturing and service sectors were constrained by deteriorating demand conditions. Indeed, new orders fell at the fastest pace in nearly three years, reflecting an accelerated fall in new business received by service providers. Businesses showed a greater reliance on backlogs as a method to sustain activity, with the latest survey data showing the strongest reduction in outstanding work since mid-2020. Confidence towards the ... (full story)