Eurozone continues to recover slowly, PMI data indicates

|By:, SA News Editor

Eurozone manufacturing PMI inched up to 51.3 in October from 51.1 in September.

Manufacturing output rose to 52.9 from 52.2.

Services fell to 50.9 from 52.2.

Composite output dropped to 51.5 from 52.2.

The data indicates that the eurozone economy expanded at a quarterly rate of 0.2% at the start of Q4, says Markit, "suggesting an ongoing, albeit sluggish, recovery."

The data also reflects "signs of economic recoveries becoming more entrenched in the periphery as well as ongoing expansion in Germany and stabilization in France."

EU Stoxx 50 +0.4%; the euro is flat at $1.3782 and down from an earlier two-year high. (PR)

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