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Eurozone services PMI for October confirmed higher

FXStreet (Mumbai) - The Eurozone Services Business Activity Index posted 54.1 in October, up from September’s seven-month low of 53.7 but below the earlier flash estimate of 54.2.

The activity ticked higher on account of improved levels of new business, rising backlogs of work and increased employment. New orders expanded at the fastest pace since July, while the pace of job creation rose to one of its quickest during the past four-and-a-half years.

Average prices charged for services in the Eurozone fell slightly during October, while the input costs rose moderately.

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