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According to data released by S&P Global, the final value of the euro zone manufacturing PMI fell to 48.4 in September, the lowest since June 2020, lower than the initial value of 48.5 and the final value of 49.6 in August.
That points to a further decline in manufacturing activity in the euro zone last month as a deepening cost-of-living crisis keeps consumers cautious about spending while soaring energy bills limit production.
S&P Global said: “The combination of rising costs and falling demand also drove another sharp drop in companies’ expectations for the year ahead in September, leading to reduced investment and slower job growth. Businesses are bracing for a tough winter. “
“The economy continues to faceQualcomminflation, increased uncertainty and a growing cost of living crisis. “
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Responsible editor: Guo Mingyu