Amidst economic turbulence, the Eurozone finds itself in a precarious situation as its economic downturn gains momentum. S&P Global's latest report reveals that the composite index for the Eurozone's private sector, comprising both industrial and service sectors, has plummeted from 47.2 to 46.5 in the month of October, marking a significant downturn.
Initial expectations of an economic rebound have been dashed as the first report indicated the same figure of 46.5 points. In economic terms, a figure above 50 signifies growth, whereas anything below denotes contraction.