Flash PMI survey data indicated that the eurozone economy grew at the slowest rate for over two years in October as an export-led slowdown continued to broaden-out to the service sector. In a sign that the slowdown has further to run, companies' expectations of future growth slipped to the lowest for nearly four years, with a near six-year low seen in manufacturing. Reduced optimism further dented hiring, hitting jobs growth. Price pressures meanwhile remained elevated, close to seven-year highs.

The IHS Markit Eurozone Composite PMI fell to 52.7 in October, down from 54.1 in September and reaching its lowest since September 2016, according to the flash reading (which is based on approximately 85% of usual monthly replies).