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European Service Prices Plunge at Steepest Rate Since January 2010;...


The Markit Flash Eurozone PMI shows the steepest fall in output prices since the global crisis began. The PMI also shows renewed job losses in spite of an otherwise stable PMI.

The Eurozone saw a marginal upturn in growth of business activity in October, according to the flash PMI results. The headline Markit PMI ™ rose from September's ten-month low of 52.0 to 52.2, signalling the first upturn in the pace of expansion for three months. However, the index remained below the average seen in the third quarter, and was the second-weakest reading seen so far this year.

Backlogs of work fell at the fastest rate since June of last year, dropping in both services and, to a lesser extent, manufacturing.

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