London-Sana
Manufacturing activity declined across the Eurozone over the past month, as a deepening cost-of-living crisis kept consumers wary, while rising energy bills curtailed production.
Reuters reported that an economic survey revealed today that the final reading of the S&P Global Manufacturing Purchasing Managers' Index fell to a 27-month low of 48.4 last September from 49.6 in August, slightly lower than the initial reading of 48.5 and below the 50 level. which separates growth from contraction.
An index measuring production, which feeds into the composite PMI due to be released next Wednesday and seen as good evidence of economic resilience, fell to 46.3 from 46.5, marking its fourth month of readings below 50.
A Reuters poll last month found there was a 60 percent chance of a recession in the bloc within a year.
Follow Sana's news on Telegram https://t.me/SyrianArabNewsAgenc