Output in the eurozone economy declined at the fastest rate in nearly three years in August, latest HCOB PMI® survey data compiled by S&P Global showed. The overall retreat in activity was the fastest since November 2020, and broad-based across the manufacturing and services sectors as the latter contracted for the first time in 2023 so far. New orders also dropped the most since late-2020, leading to companies completing outstanding work at the fastest rate in over three years. This resulted in one of the softest 12-month outlook in 2023 so far and a near-stalling of jobs growth, with private sector employment ... (full story)