The euro-area economy maintained its strong momentum at the start of the final quarter of this year, with rising workloads encouraging companies to take on new staff at the sharpest pace in more than a decade. A Purchasing Managers’ Index for manufacturing and services slipped to 55.9 in October from 56.7 in September, IHS Markit said on Tuesday. Economists surveyed by Bloomberg predicted the measure would drop to 56.5.
While the reading weakened to a two-month low, job creation in manufacturing rose to the highest level since data collection started in 1997, reflecting strong order inflows that were buoyed by export demand. Service-sector employment also strengthened.
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