FX.co ★ Eurozone Business Activity Slows in October

The S&P Global Eurozone Composite PMI slipped to 51.7 in October 2026, down from 53.1 in September and coming in below the flash estimate of 51.9. This was the first decline since May, indicating a moderation in private sector activity and the slowest pace of growth in four months. The loss of momentum was broad-based, with both manufacturing and services recording weaker output growth.

New business inflows came close to stalling after three consecutive months of solid expansion, while employment contracted and business confidence fell to its lowest level since May. On the price front, input cost inflation quickened to a five-month high. Output charges continued to rise markedly, though the rate of increase eased compared with September.