• <a fr-original-style="" href="https://www.euronews.com/next/2022/09/05/eurozone-economy-pmi" rel="noopener noreferrer" style="color: rgb(9, 9, 9); text-decoration: none; background-color: transparent; outline: none; cursor: pointer; transition: color 0.3s ease 0s; touch-action: manipulation; user-select: auto; box-sizing: border-box;" target="_blank">Eurozone business activity</a> contracted for a second month in August as growing economic uncertainty and rising inflation caused companies and consumers to scale back expenditures, according to S&amp;P Global. The final composite Purchasing Managers’ Index (PMI) fell to an 18-month low of 48.9 in August from July’s 49.9, below a preliminary 49.2 estimate.<ul fr-original-style="padding-inline-start: 20px;" style="padding-inline-start: 20px; margin-top: 0px; margin-bottom: 1em; list-style-position: inside; box-sizing: border-box;"><li fr-original-style="" style="box-sizing: border-box;">Meanwhile: Eurozone retail sales —a proxy for consumer demand— increased 0.3% in July compared to the previous month for a 0.9% year-on-year fall, falling behind analyst estimates and continuing a downward trend due to a persistent slump in demand for non-food products, <a fr-original-style="" href="https://think.ing.com/snaps/eurozone-retail-sales-ticked-up-in-july-but-downward-trend-remains" rel="noopener noreferrer" style="color: rgb(9, 9, 9); text-decoration: none; background-color: transparent; outline: none; cursor: pointer; transition: color 0.3s ease 0s; touch-action: manipulation; user-select: auto; box-sizing: border-box;" target="_blank">according to Eurostat data</a> released on Monday.</li></ul>

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