Euro zone business holds steady in October, PMI shows

Euro zone business activity held steady last month, a small improvement from September’s modest decline, supported by an expansion in the bloc’s dominant services industry that offset an ongoing – but stabilising – decline in manufacturing. HCOB’s composite Purchasing Managers’ Index for the currency union, compiled by S&P Global and seen as a good gauge of overall economic health, rose to 50.0 in October from September’s 49.6. A PMI covering the service industry nudged up to 51.6 last month from 51.4, ahead of the 51.2 flash reading.Read More