Markets

Fear of recession returns as demand falls sharply in Europe

Output across the eurozone fell at most rapid rate in more than a decade in the first weeks of October

The latest purchasing managers’ index painted a grim picture of an accelerated slowdown in the eurozone economy in early October due to a sharp fall in manufacturing orders

The European economy is beginning to show material signs of weakness due to a very sharp slump in demand, stoking fears among economists once again that the continent could enter recession early next year.

Earlier last week the latest purchasing managers’ index (PMI) released by S&P Global, the financial analytics and research firm, painted a grim picture of an accelerated slowdown in the eurozone economy during the early weeks of October due to a sharp ...