Euro zone PMI hits lowest in nearly 3 years, stirs recession worries
Euro Zone businesses faced a significant setback this October, with a widespread drop in demand, raising concerns about a possible recession. The Purchasing Managers’ Index (PMI) for the region fell sharply, indicating economic challenges.
Downturn Across Europe: Business activity declined across the Euro Zone, including major economies like Germany and France. This downturn hints at economic struggles ahead.
Banks Tighten Credit: Euro Zone banks restricted credit access amid falling demand and a deteriorating economic outlook, exacerbating the economic challenges.
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