The Eurozone private sector expanded slightly less than initially estimated in October, final data from Markit Economics showed Wednesday.
The final Markit composite output index rose to 52.1 in October from 52 in September. The reading was slightly below the flash estimate of 52.2. The headline index has now remained in expansion territory for 16 successive months.
Meanwhile, the services Purchasing Managers' Index fell to 52.3 from 52.4 in September. The index was estimated to remain unchanged at 52.4.
Ireland and Spain remained at the head of the PMI output growth table in October. The German private sector maintained growth in October but the rate of expansion was slower than estimated.
The German composite PMI came in at 53.9 in October, sharply down from the flash estimate of 54.3. In September, the index was at 54.1.
The final services PMI dropped to 54.4 from 55.7 in September. The flash score was 54.8.
The French composite PMI dropped to a 4-month low of 48.2 from 48.4 in September. The reading was above the flash estimate of 48. The services PMI slid to 48.3 from 48.4 in September. But the score was above 48.1 initial estimate.
"This varying performance across the region clearly muddies the picture for policymakers," Chris Williamson, chief economist at Markit, said.
The combined threat of economic stagnation and growing deflationary risks will add to pressure on the ECB to do more to stimulate demand in the euro area, strengthening calls for full-sale quantitative easing, he said.
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