Eurozone economic growth deteriorated sharply to a 16-month low in June, according to preliminary PMI data by S&amp;P Global, an American publicly traded corporation, &nbsp;reflecting a fall in demand growth.&nbsp;

Manufacturing output contracted for the first time in two years and the expansion in service sector activity came down considerably, easing most notably for consumer-facing services.

The survey by S&amp;P Global revealed that companies also scaled back their business expectations for output over the coming year to the lowest since October 2020.&nbsp;

“Economic growth is showing signs of faltering as the tailwind of pent-up demand from the pandemic is already fading, having been offset by the cost-of-living shock and slumping business and consumer confidence,” S&amp;P Global economist Chris Williamson said in a statement, as reported by Bloomberg.

Both the stagnation of demand and worsening outlook were widely blamed on the rising cost of living, tighter financial conditions and concerns over energy and supply chains linked to the Ukraine war and ongoing pandemic disruptions.

Also Read:&nbsp;<a href="https://www.wionews.com/world/mass-graves-being-prepared-for-earthquake-victims-in-afghanistan-491083">Mass graves being prepared for earthquake victims in Afghanistan</a>

The survey of purchasing managers continued to show elevated price pressures, including a “worrying increase in costs growth in the service sector.” The cooling of demand, however, pointed to a calming of goods prices, “bringing a tentative hint of a peaking of inflation in the near future,” Williamson said.

The euro retreated against the dollar on Thursday as economic data pointed to increased prospects of a recession in Europe. Global stock markets wobbled after another battering this week, while oil prices slid further.

Government bond yields also fell in another indication that investors are more worried about the prospect of a recession, removing some of the financial stings on governments from rising interest rates.

(with inputs from agencies) 
&nbsp;

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Eurozone economic growth deteriorated sharply to a 16-month low in June, according to preliminary PMI data by S&P Global, an American publicly traded corporation, reflecting a fall in demand growth.

Eurozone economic growth deteriorated sharply to a 16-month low in June, according to preliminary PMI data by S&P Global, an American publicly traded corporation, reflecting a fall in demand growth. Manufacturing output contracted for the first time in two years and the expansion in service sector activity came down considerably, easing most notably for consumer-facing services. The survey by S&P Global revealed that companies also scaled back their business expectations for output over the coming year to the lowest since October 2020. “Economic growth is showing signs of faltering as the tailwind of pent-up demand from the pandemic is already fading, having been offset by the cost-of-living shock and slumping business and consumer confidence,” S&P Global economist Chris Williamson said in a statement, as reported by Bloomberg. Both the stagnation of demand and worsening outlook were widely blamed on the rising cost of living, tighter financial conditions and concerns over energy and supply chains linked to the Ukraine war and ongoing pandemic disruptions. Also Read: Mass graves being prepared for earthquake victims in Afghanistan The survey of purchasing managers continued to show elevated price pressures, including a “worrying increase in costs growth in the service sector.” The cooling of demand, however, pointed to a calming of goods prices, “bringing a tentative hint of a peaking of inflation in the near future,” Williamson said. The euro retreated against the dollar on Thursday as economic data pointed to increased prospects of a recession in Europe. Global stock markets wobbled after another battering this week, while oil prices slid further. Government bond yields also fell in another indication that investors are more worried about the prospect of a recession, removing some of the financial stings on governments from rising interest rates. (with inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Eurozone economy at a 16-month low in June due to Ukraine war and pandemic disruptions: Report

Amid the ongoing Russian invasion of Ukraine, Kyiv has received EU candidate status but getting a membership is a long process. Ukraine President Zelensky has hailed the decision as historic.

Kyiv crosses the first hurdle of joining the EU as it receives candidate status

The US Senate has passed a new gun control bill. The bill will now be sent back to the House. It is one of the most significant pieces of legislation addressing guns amid the recent rise in gun violence.

Gun control in the US: Senate passes bill on gun safety

Ukraine gets EU candidate status but getting a membership is a long process

Russian gas flow to Europe has dwindled amid the ongoing Russian invasion of Ukraine and economic sanctions on Russia. With falling supplies, Germany has triggered a gas alarm stage.

Russian gas flow to Europe dwindles: Germany triggers gas alarm stage as supplies fall

Bollywood action star Tiger Shroff, on Thursday, shared a cryptic post on his Instagram account and the fans are assuming that the actor might reunite with Hrithik Roshan for `War 2`. 
 
In a recent Instagram story, the `Baaghi` shared a monochromatic collage image of two half faces, the first one is of Tiger himself and the other face is of his `War` co-actor Hrithik Roshan. 
 
Sharing the post, the actor started a poll, in which he asked the fans "Part -2 Anyone?" with two options `Yes` or `No` in it? To which approximately 96 per cent of fans voted for Yes. With this cryptic post, fans are now assuming that the actor just confirmed working on `War 2`, and they shared their excitement to see the `Heropanti` actor again in the action avatar alongside Hrithik."Did He Just Give A Hint That He`s Is In #war2...?? If That It Is Then It Will Be A Blast Again Waiting For Your Next Film Announcement!" a user tweeted.

<img alt="Tiger" data-entity-type="file" data-entity-uuid="43b5064f-7fe0-4f4f-be6d-528edb7f1f9e" src="//cdn.wionews.com/sites/default/files/inline-images/happy%2030th%20birthday%20%2824%29.png" /> 
 
Another user wrote, "WHAT`SSSSS COOKING TIGER??? Please don`t give me hope this soon"As the negative character of Khalid played by Tiger got killed by Kabir played by Hrithik in the film, fans are now speculating their own ideas that how could the duo be the part of this franchise again?"Is it really happening? Khalid`s body wasn`t found...And Saurabh is a skilled agent...He had enough survival skills to rescue himself from the ceiling incident. Anything can happen. Tiger has chances to come back Let`s manifest" a user speculated. 
 
'War'&nbsp;was released in 2019 and collected over 500 crores at the box office, which was the highest for any film that year, and in the film itself, it was projected that `War` may turn into a spy franchise. 
 
The official announcement of `War 2` is still awaited. Meanwhile, Tiger Shroff is currently working on his next film `Ganpath - Part 1` directed by Vikas Bahl. The film is slated to release on the occasion of Christmas this year.&nbsp;

Bollywood action star Tiger Shroff, on Thursday, shared a cryptic post on his Instagram account and the fans are assuming that the actor might reunite with Hrithik Roshan for `War 2`.

Bollywood action star Tiger Shroff, on Thursday, shared a cryptic post on his Instagram account and the fans are assuming that the actor might reunite with Hrithik Roshan for `War 2`. In a recent Instagram story, the `Baaghi` shared a monochromatic collage image of two half faces, the first one is of Tiger himself and the other face is of his `War` co-actor Hrithik Roshan. Sharing the post, the actor started a poll, in which he asked the fans "Part -2 Anyone?" with two options `Yes` or `No` in it? To which approximately 96 per cent of fans voted for Yes. With this cryptic post, fans are now assuming that the actor just confirmed working on `War 2`, and they shared their excitement to see the `Heropanti` actor again in the action avatar alongside Hrithik."Did He Just Give A Hint That He`s Is In #war2...?? If That It Is Then It Will Be A Blast Again Waiting For Your Next Film Announcement!" a user tweeted. Another user wrote, "WHAT`SSSSS COOKING TIGER??? Please don`t give me hope this soon"As the negative character of Khalid played by Tiger got killed by Kabir played by Hrithik in the film, fans are now speculating their own ideas that how could the duo be the part of this franchise again?"Is it really happening? Khalid`s body wasn`t found...And Saurabh is a skilled agent...He had enough survival skills to rescue himself from the ceiling incident. Anything can happen. Tiger has chances to come back Let`s manifest" a user speculated. 'War' was released in 2019 and collected over 500 crores at the box office, which was the highest for any film that year, and in the film itself, it was projected that `War` may turn into a spy franchise. The official announcement of `War 2` is still awaited. Meanwhile, Tiger Shroff is currently working on his next film `Ganpath - Part 1` directed by Vikas Bahl. The film is slated to release on the occasion of Christmas this year.

Is 'War 2' in making? Check out Tiger Shroff's latest post

It has been more than 100 days since the Russian invasion of Ukraine has been raging on. Scores of civilians have lost their lives in the conflict. Fight for Severodonetsk in Eastern Ukraine has intensified.

Russia-Ukraine conflict: Fight for Severodonetsk in Eastern Ukraine intensifies

Ukrainians are fleeing Donbas as fighting intensifies between Russia and Ukraine. This comes at a time when the world is marking refugee day today.

World marks refugee day amid Ukraine war

Violence escalated in East Ukraine amid the ongoing Russian invasion. While Kyiv awaits the EU's membership decision, Zelensky said that Russia is looking to intensify attacks on Ukraine.

As Kyiv awaits the EU's membership decision, Zelensky says Russia to intensify attacks on Ukraine

It has been more than 100 days since the Russian invasion of Ukraine started, and scores of civilians have lost their lives in the conflict. Armies of both countries have been involved in intense fights since Russian troops entered Ukraine. Now, Ukraine President Zelensky awards troop members.

Ukraine President Zelensky awards troop members amid the ongoing Russian invasion of Ukraine

Russian media outlets broadcast images and videos of what they said were two US citizens captured while fighting for Ukraine. Video shows US nationals saying 'I am against War'.

Russian media releases videos of two US nationals captured by Russian forces

NATO chief Jens Stoltenberg warned that the Russia-Ukraine war could last “for years”, and asked member countries to increase support, financially and militarily to Kyiv.

NATO chief warns Russia-Ukraine war might last long

After coming back from Kyiv, UK PM Boris Johnson pledged his support to Ukraine amid the ongoing Russian invasion. He said that Putin's win would be 'catastrophic'.

UK PM Boris Johnson after returning from Kyiv: Putin win would be 'catastrophic'

Ukraine has received candidate status to join the EU as it moves one step closer to joining amid the ongoing Russian invasion of Ukraine. However, full membership still to take years.

Ukraine moves one step closer to joining the EU but full membership still to take years

Due to Russian invasion of Ukraine, 1000 companies left Russia as per reports. However, some companies continue to remain despite sanctions.

Russia-Ukraine conflict: Report: 1000 companies have quit Russia

Amid the ongoing Russian invasion of Ukraine, Google Russia has filed for bankruptcy. However, Google says it will continue free services. Even YouTube in Russia will stay online for now.

Google Russia files for bankruptcy but will continue free services

Three Americans have been reported missing in Ukraine amid the ongoing Russian invasion. The US says it is working hard to verify these reports. Two American veterans were fighting in the Ukraine war.

3 Americans reported missing in Ukraine: The US says working hard to verify reports

Leaders of four European nations are in Ukraine. Talks over Ukraine's EU membership will be held today. Germany, France, Italy and Romania are backing Kyiv.

Is Ukraine inching towards its European Union dream? Talks over Ukraine's EU membership today

European leaders have travelled to Kyiv. They pledged their support to Ukraine amid the ongoing Russian invasion of Ukraine. Ukraine's EU bid has remained in focus.

European leaders travel to Kyiv as they pledge their support amid the ongoing Russian invasion

Admiral Sir Tony Radakin, the UK's chief of defence staff, said Russia has strategically lost the war in Ukraine. He added, Vladimir Putin had used 25% of his army power for only tiny gains.

'Russia has strategically lost the war,' says UK armed forces chief

It has been more than 100 days since the Russian invasion of Ukraine started and scores of civilians have lost their lives in the conflict. Now, Ambulance teams rescue soldiers amid intense fighting in Eastern Ukraine.

Intense fighting in Eastern Ukraine: Ambulance teams rescue soldiers

A Russian spy posing as a Brazilian national was caught in the Netherlands. He intended to access the ICC database. Dutch intelligence service stopped him at the airport.

Russian spy posing as a Brazilian national caught in the Netherlands

The secretary of agriculture on Thursday announced at the United Nations a three-year agriculture partnership between the United States and Ukraine to address global food insecurity, which has been exacerbated by Russia’s invasion of Ukraine.

The partnership, in the form of a memorandum of understanding, was signed virtually earlier this week by the secretary, Tom Vilsack, and Ukraine’s minister of agriculture. Vilsack said the agreement was focused on providing technical assistance to Ukraine, which before the war was the world’s fourth-largest exporter of grain and seeds, and helping the country rebuild its agriculture industry after the war ends.

Vilsack said the United States would take several other steps to address the crisis, including incentives to growers to expand their production and, accordingly, increase the amount of grain available for food aid.

The war in Ukraine has caused global food and energy prices to soar and risks creating grain supply shortages in countries in the Middle East, Asia and Africa that depend heavily on imported wheat and grain from Ukraine. The United Nations has warned that a global food crisis, already in the making because of climate change and the pandemic’s disruption of supply chains, would place hundreds of thousands of people at risk of starvation.

A global effort is underway to release some 25 million tons of Ukrainian grain that are trapped by Russia’s blockade of the country. The U.N. is also negotiating a deal in which Russia would allow transport of Ukrainian grain from ports in the Black Sea in exchange for exports of Russian fertilizers to the world market without the threat of sanctions.

“Food should not be a weapon,” Vilsack said. “It’s essential to get the grain most needed out of the ports.”

Turkey, which has played a mediating role in the food conflict, offered Wednesday to host four-way talks with Ukraine, Russia and the UN. But a breakthrough would require ports in Ukraine to be de-mined and ships to be escorted through safe corridors to avoid mines in the Black Sea. A UN&nbsp;spokesperson, Stéphane Dujarric, said Thursday that there was no update on negotiations.

Vilsack said that while negotiations for sea transportation continued, a parallel track was necessary to move and store grain overland through Romania and Poland by railway. This would reduce the risk of grain being stolen and would free up storage for Ukrainian farmers who will soon need to harvest winter crops, he said.

“These negotiations are incredibly important,” Vilsack said, but added: “We remain skeptical about the Russians and whether or not they are coming to this to get to the ultimate yes.”

The secretary of agriculture on Thursday announced at the United Nations a three-year agriculture partnership between the United States and Ukraine to address global food insecurity, which has been exacerbated by Russia’s invasion of Ukraine.

The secretary of agriculture on Thursday announced at the United Nations a three-year agriculture partnership between the United States and Ukraine to address global food insecurity, which has been exacerbated by Russia’s invasion of Ukraine. The partnership, in the form of a memorandum of understanding, was signed virtually earlier this week by the secretary, Tom Vilsack, and Ukraine’s minister of agriculture. Vilsack said the agreement was focused on providing technical assistance to Ukraine, which before the war was the world’s fourth-largest exporter of grain and seeds, and helping the country rebuild its agriculture industry after the war ends. Vilsack said the United States would take several other steps to address the crisis, including incentives to growers to expand their production and, accordingly, increase the amount of grain available for food aid. The war in Ukraine has caused global food and energy prices to soar and risks creating grain supply shortages in countries in the Middle East, Asia and Africa that depend heavily on imported wheat and grain from Ukraine. The United Nations has warned that a global food crisis, already in the making because of climate change and the pandemic’s disruption of supply chains, would place hundreds of thousands of people at risk of starvation. A global effort is underway to release some 25 million tons of Ukrainian grain that are trapped by Russia’s blockade of the country. The U.N. is also negotiating a deal in which Russia would allow transport of Ukrainian grain from ports in the Black Sea in exchange for exports of Russian fertilizers to the world market without the threat of sanctions. “Food should not be a weapon,” Vilsack said. “It’s essential to get the grain most needed out of the ports.” Turkey, which has played a mediating role in the food conflict, offered Wednesday to host four-way talks with Ukraine, Russia and the UN. But a breakthrough would require ports in Ukraine to be de-mined and ships to be escorted through safe corridors to avoid mines in the Black Sea. A UN spokesperson, Stéphane Dujarric, said Thursday that there was no update on negotiations. Vilsack said that while negotiations for sea transportation continued, a parallel track was necessary to move and store grain overland through Romania and Poland by railway. This would reduce the risk of grain being stolen and would free up storage for Ukrainian farmers who will soon need to harvest winter crops, he said. “These negotiations are incredibly important,” Vilsack said, but added: “We remain skeptical about the Russians and whether or not they are coming to this to get to the ultimate yes.”

US announces three-year agriculture partnership with Ukraine to address food crisis

Poland has sent a message to Russia. Polish Deputy PM took a vow to remain in debt than occupied. Poland has also decided to purchase more military equipment.

Polish Deputy PM takes a vow: 'Better to be in debt than occupied'

Amid a raging war between Russia and Ukraine, the European Union is now turning towards Israel for its natural gas supply needs as the bloc claims that it has been blackmailed by Moscow for its gas supplies after siding with Kyiv.

'Want to reduce dependence on Russia,' European Union turns to Israel for gas supply

A Ukrainian soldier couple has tied the knot in front of a closed registry office amid the ongoing Russian invasion of Ukraine. Brigade Chaplain gave his blessings to the couple.

Ukrainian soldier couple tie knot: Brigade Chaplain gives his blessings

The fight for Eastern Ukraine continues to intensify, Ukraine's authorities have now claimed that all bridges to the embattled city of Severodonetsk have now been destroyed. The development came after Ukraine said that its forces have been pushed back from the center of the eastern city where fighting with Russia has raged for weeks

Russia-Ukraine Conflict: Russia cuts off Severodonetsk as three connecting bridges were destroyed

Ukrainians are laughing over the awfulness of war as they join stand-up comedy clubs. People in Ukraine are using comedy as therapy amid the ongoing Russian invasion of Ukraine.

People in Ukraine use comedy as therapy as Ukrainians join stand-up comedy clubs

China threatened to wage war if Taiwan officially declared independence from Beijing. Why have Taiwanese leaders preferred the status quo over independence? What is China's strategy to keep Taiwan on edge? Palki Sharma tells you.

Gravitas: China threatens war if Taiwan declares independence

As the fight for eastern Ukraine continues to intensify, a former British soldier has been killed fighting for Ukraine. He's thought to be the second Briton to have been killed during the war in Ukraine.

Russia-Ukraine Conflict: Former British soldier killed in Ukraine

The Russian invasion of Ukraine has been raging on for more than 100 days now, and scores of civilians have lost their lives in the conflict. Armies of both countries have been involved in intense fights since Russian troops entered Ukraine. Now, fate of Mariupol soldiers undecided as bodies of soldiers still at Azovstal steelworks.

Fate of Mariupol soldiers undecided as bodies of soldiers still at Azovstal steelworks

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