Euro-area PMI Eases in October as France Slows - Briefs Finance

S&P Global's Composite PMI for the euro area eased to 51.9 in October from 53.1 a month earlier, still signaling growth but undershooting the 52.7 economists had penciled in. The gauge remains above the 50 mark that separates expansion from contraction. S&P Global Market Intelligence's chief business economist Chris Williamson remarked, "A key drag on growth was a renewed drop in business activity in the French service sector," and said it "may be linked to strikes and unrest having disrupted some local economies." Even so, he called the region's October activity "among some of the best performances seen over the past three years." France underperformed by a wide margin as it contends with fiscal and political tensions.