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Eurozone Growth Slows
Economic growth in the eurozone slowed sharply in October, with the composite Purchasing Managers’ Index falling to 51.7 from 53.1 in September, while remaining above the 50-point threshold that signals growth. A survey by S&P Global estimated that the economy grew by around 0.3% at the start of the final quarter, as growth in new orders nearly stalled and the services-sector index fell to 51.4. Cost pressures also intensified, particularly due to rising energy prices, and business confidence fell for the third consecutive month. France had returned to contraction, while growth slowed in Germany, Italy, Spain and Ireland.
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