Survey points to faltering eurozone recovery

Survey indicates that eurozone recovery from recession isn't going to be electric

Associated Press

LONDON (AP) -- A survey of business managers is pointing to a modest slowdown in growth in the eurozone during October.

The monthly composite purchasing managers' index from financial information company Markit unexpectedly slipped in October to 51.5 points from September's 27-month high of 52.2.

Though it's still above the 50 threshold that indicates expansion, the index was below expectations. The consensus in the markets was for a modest rise to 52.4.

Economic data over recent weeks have suggested that the eurozone recovery has continued through the latter part of the year but that growth isn't electric.

The economy of the 17 EU countries that use the euro grew by 0.3 percent in the second quarter, which brought an end to the single currency zone's longest-ever recession.

View Comments (0)