Eurozone's economic landscape takes an unexpected downturn. S&P Global's recent data reveals significant contractions in the region's industrial and service sectors. Notably, apart from the unpredictable lockdown months, the economy hasn't seen such a shrinkage in over ten years.

Main Highlights:

Order intakes and employment levels dip for the first time since early 2021.Manufacturing faces its most profound recessionary impact, excluding the early lockdown months.Services show a decline as post-lockdown leisure and travel expenditures fade.

Is the Eurozone's economy hitting another rough patch, or is this just a transient phase?