2016.10.2404:27:00UTC+00Eurozone Private Sector Growth At 10-Month High

Eurozone private sector expanded at the fastest pace in ten months in October, flash survey from IHS Markit showed Monday.

The composite output index climbed to 53.7 in October from 52.6 in September. It ws forecast to increase slightly to 52.8. Any score above 50 indicates expansion in the sector.

The flash services Purchasing Managers' Index increased to a 9-month high of 53.5 in October from 52.2 in the preceding month. Tha was above the reading of 52.4 expected by economists.

The manufacturing PMI also rose to a 30-month high of 53.3 in October from 52.6 a month earlier. At same time, it was expected to remain stable at 52.6.

"October's PMI is consistent with a quarterly GDP growth rate of 0.4 percent, led by a 0.5 percent pace of expansion in Germany," Chris Williamson, Chief Business Economist at IHS Markit, said.

In contrast, the pace of growth eased in France, though was nevertheless the second-best seen over the past year.