Eurozone PMI Composite Falls to 51.7 as Demand Weakens and Business Confidence Slips - Action Forex

Eurozone private-sector growth slowed to a four-month low in October, with PMI Composite falling from 53.1 to 51.7 , as activity weakened across both manufacturing and services. PMI Services declined from 53.0 to 51.4 , also a four-month low, although both indicators remained above the 50 expansion threshold. The composite index recorded its first monthly decline since May, indicating a loss of momentum at the start of Q4 following stronger activity during the previous quarter. S&P Global Chief Business Economist Chris Williamson estimated that the survey was consistent with approximately 0.3% economic growth , describing the pace as respectable but warning that the recent expansion was showing signs of weakening.