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Euro zone business activity contracted again in August

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S&P Global's flash Composite Purchasing Managers' Index - seen as a good guide to overall economic health - fell to 49.2 in August from 49.9 in July, just above the median forecast in a Reuters poll for a bigger drop to 49.

S&P Global's flash Composite Purchasing Managers' Index , seen as a good guide to overall economic health, fell to 49.2 in August from 49.9 in July.A reading below 50 indicates a contraction and August's preliminary estimate was the lowest since February 2021.

A PMI covering the bloc's dominant services industry fell to 50.2 from 51.2, only just above breakeven and below the 50.5 predicted in the Reuters poll.

 

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