Preliminary Europe PMI Lower in October

The pace of growth among businesses in the eurozone eased in October as the service sector slowed, a survey has indicated.

The preliminary Purchasing Managers’ Index (PMI) from research firm Markit fell to 51.5 from 52.2 in September.

However, a reading above 50 still implies expansion, and activity has now grown for four months in a row.

Markit said expansion was “broad-based” across the eurozone, although growth slowed in both Germany and France.

Germany – which has been the main economic powerhouse for the eurozone in recent years – saw growth slow to a three-month low.

Markit also noted that the eurozone’s jobs market remained weak. Employment fell for the 22nd month in a row, with the rate of job losses picking up from September.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza