Eurozone Business Activity Slumps as High Prices and Rates Weigh on Demand; Recession Risk Rises Despite Easing Inflation
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Euro zone business activity fell further in October, indicating increased recession risk
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Services sector weakened amid weak demand and high prices/borrowing costs
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Germany and France back in contraction; Italy and Spain diverge
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ECB ended rate hike streak in October but cautions against rate cut expectations
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Easing inflation pressures in PMI data welcomed by ECB trying to curb prices