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
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.