Eurozone economic growth slows, though activity remains in expansion territory

Economic growth in the Eurozone slowed in October, with the composite Purchasing Managers' Index (PMI) falling to 51.70 points down from 53.10 in September marking a four-month low. Nevertheless, the index remained above the 50-point threshold, which indicates growth.

The slowdown affected both the manufacturing and services sectors. While growth continued in Germany, Italy, Spain, and Ireland, France slipped back into contraction. Employment rates and business confidence also declined, while input costs climbed to a five-month high.

A chief economist at S&P Global noted that the Eurozone economy is growing at a rate of 0.30% as the fourth quarter begins, amid a slowdown in new business inflows and mounting pressures on economic activity.