The economic performance of the euro area grew the slowest of the past two years in October

The economic performance of the euro area grew the slowest of the past two years in October but more than expected – according to an analysis published by the IHS Markit Economics Institute in London on Wednesday. The analysis is based on preliminary data.

In October, the value of the Purchasing Manager Index (PMI) reflecting the performance of the euro area’s manufacturing sector fell to 52.1 points, a 26-month low, from the 53.2 points of September.

The service industry PMI declined to 53.3 in October, from the 54.7 points of September. It is a 24-month low. (MTI)