Euro zone services hit again in October

Aihuicha, November 6: Cyrus de la Rubia, chief economist of Commerzbank Hamburg, said that the development of the euro zone service sector seemed to be struggling in the last quarter. October marked the third consecutive month that business activity was hit. With new business slumping sharply, the outlook is grim. However, expectations for the next 12 months have improved, but remain well below the long-term average. It's a bit of a headache that prices are still rising, rather than going hand in hand with demand as usual. Although business activity has entered a recession zone, the price index is still well above 50, known as" Stagflation". The most important question is how long will the region stay in this strange stagflation zone? The PMI data showed some signs of waiting. For the European Central Bank, that means it is not time to cut interest rates.