Business activity in the euro area stabilized in October, improving slightly from the slight decline seen in the region in September, thanks to continued expansion in the dominant services sector, which offset the continued decline in manufacturing.
The bloc's composite PMI, which S&P Global considers a good measure of overall economic health, rose to 50 points in October from 49.6 in September, remaining at the 50-point mark separating growth from contraction, beating the initial forecast of 49.7.
On the other hand, the Services PMI rose slightly to 51.6 in October, compared to 51.4 during the previous month, also beating the preliminary estimate of 51.2.
