Euro Area Business Activity Contracts Amid Services Sector Weakness
Euro area business activity contracted for the first time since 2024, driven by a decline in the services sector, with the war in the Middle East suppressing demand. Price pressures continued to rise across the region, with UK inflation accelerating to 3.3% in March. Germany and France saw mixed performances, with Germany's services sector plummeting while France's manufacturing exceeded expectations.
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Topics: Energy Costs Euro Area Economy Inflation Services Sector War Impact