Eurozone faces ‘deepening economic woes’ from Middle East conflict, survey suggests
Closely watched Purchasing Managers’ index points to first contraction in 16 months in private sector activity
Closely watched Purchasing Managers’ index points to first contraction in 16 months in private sector activity

This latest instability is stagflationary and may add to the erosion of the US-led economic order

Fund warns about lack of progress in repairing budgets as Middle East war strains public finances

Investors risk being too complacent about war in the Middle East

Data relates to period before Middle East war triggered jump in energy prices

Analysts polled by Reuters had expected zero growth between April and June

Middle East energy shock pushes annual rate past European Central Bank’s 2% target