Low indicators of business activity in the euro zone indicate that Europe may have entered recession, notes Bloomberg agency. Purchasing managers' index from S&P Global in October did not meet expectations, falling to 46.5 points - analysts, on the contrary, predicted its growth to 47.4 points. The value below 50 indicates a decline in business activity.

According to the chief economist of Hamburg Commercial Bank Cyrus de la Rubia, the situation in the eurozone is getting worse, and it will not be a surprise if the region enters recession in the second half of the year.

Bloomberg Economics expects eurozone output to fall 0.1% in the third quarter, which would be the first quarterly contraction since the lockdowns amid the pandemic. This may attract the attention of the ECB, which has raised interest rates a record 10 times in a row amid high inflation, but the publication, however, does not expect the regulator to change course - the consumer price level is still too high, although it has moved away from peak levels.