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Eurozone Services Contract for First Time in Year
Published 2 weeks, 1 day ago
Description
Eurozone services sector contracts for the first time in a year, with PMI plummeting to a six-year low due to weakened demand and Middle East conflict impact. Germany, France, and Spain also experience declining private sector activity. Jobs in services stagnate, ending a five-year hiring streak, while prices rise at the fastest pace in two years. European Central Bank hints at potential rate hike in June to combat inflation.
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