LONDON—Manufacturing activity across the eurozone contracted last month with factories forced to stockpile unsold goods due to weak demand, a survey showed on Monday, adding to concerns the bloc could fall into a recession.
S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) fell to 49.8 in July from June’s 52.1, just ahead of a preliminary reading of 49.6 but its first time below the 50 mark separating growth from contraction since June 2020.
