Pursuits
European Services, Manufacturing Growth Weakens
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Europe’s services and manufacturing industries expanded at the weakest pace in a year in October, suggesting a global slowdown and the rising euro are starting to undermine the region’s recovery.
A composite index based on a survey of euro-area purchasing managers in both industries fell to 53.4 from 54.1 in September, London-based Markit Economics said today. Economists forecast a drop to 53.7, the median of 12 estimates in a Bloomberg survey shows. A reading above 50 indicates expansion.