MW: Euro-zone Oct. composite PMI falls to 1-year low
By William L. Watts
LONDON (MarketWatch) -- A measure of private-sector activity across the 16-nation euro zone fell more than expected in October, signaling a further slowing of growth in the region. The Markit preliminary composite purchasing managers index fell to a 12-month low of 53.4 from 54.1 in September. Economists had forecast a decline to 53.7. A reading of more than 50 indicates growth in activity, while a figure of less than 50 signals a contraction. The decline was led by a fall in the services reading, with PMI for the services sector falling to an eight-month low of 53.2 from 54.1 in September. Manufacturing PMI rose to 54.1 from a reading of 53.7 in September.
