Eurozone services sector sees modest growth in Oct. ’24

Eurozone services activity inched higher in October, with the HCOB Services PMI rising to 51.6 from 51.4 in September, indicating modest expansion.

While growth in the sector continued, new business receipts fell at the fastest rate since January, especially in foreign orders, marking the sharpest export decline in ten months.

Service providers focused on clearing backlogs amid weaker demand, and employment levels rose, albeit at the slowest pace since February 2021.

Business sentiment remained positive, though optimism dipped from September levels. Input costs and output prices saw slight increases, maintaining low inflation levels relative to recent months.

Attribution: HCOB PMI 

Subediting: Y.Yasser