PPublished on Tuesday August 23, 2022 by S&P Global, economic activity in the euro zone contracted once more in August in the private sector, down for the second consecutive month.
According to the PMI index, calculated on the basis of company surveys, the contraction of economic activity in the euro zone is caused by persistently high inflation. PMI calculations fell to 49.2, the lowest level in 18 months, from 49.9 in July and 52 in June.
In economics jargon, a threshold above 50 in the PMI index reflects an increase in activity, while a threshold below signals a contraction.
