BERLIN—Germany’s economic downturn deepened in October, the flash S&P Global composite purchasing managers’ index showed on Monday as its reading fell to 44.1 from 45.7 in September, the lowest since May 2020, when the country was under a COVID-19 lockdown.
High energy costs were a major factor, especially in manufacturing, where the rate of contraction was at its fastest in two-and-a-half years, though manufacturing was also hit by weaker demand, S&P Global said.
