After the latest data confirmed fears about a runaway rise in euro zone consumer prices, will business activity spring a double whammy?
The August numbers, due on Tuesday, may show another month of contraction in business activity after S&P Global's final composite PMI index slumped to a 17-month low in July. Economists in a Reuters poll expect the Federal Reserve to raise rates by 50 basis points in September amid expectations inflation has peaked and growing recession worries, but who said the risks were skewed towards a higher peak.
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