INSUBCONTINENT EXCLUSIVE:
Business activity contracted for the first time in seven months, marking a significant downturn
crucial economic health indicator, fell to 48.9 in September from 51 in August
Any reading below 50 signals contraction, highlighting the severity of the situation.Cyrus de la Rubia, chief economist at Hamburg
Commercial Bank, painted a grim picture
The Olympic effect had temporarily boosted France, a heavyweight in the Eurozone economy.Eurozone Business Activity Slumps as Olympic Boost
De la Rubia cautioned that the rapid decline in new orders and backlogs foreshadowed further economic weakening.Global demand plummeted at
its fastest pace in eight months
The new business index fell to 47.2 from 49.1 points, underscoring the widespread economic challenges.In contrast, the United States
maintained stable business activity in September
However, average prices for goods and services rose at the quickest rate in six months
This increase could signal a potential inflation uptick in the coming months.S-P Global reported that the U.S
A reading above 50 indicates expansion in the private sector, showcasing the U.S
As the Eurozone grapples with post-Olympic challenges, the world watches closely for signs of recovery or further decline.
