Eurozone Growth Slows as French Activity Contracts

Eurozone private-sector activity continued to expand in October but lost momentum, as renewed contraction in France and rising costs weighed on the region’s growth, a preliminary survey showed. The composite purchasing managers’ index fell to 51.9 from 53.1 in September, its lowest reading since June. A reading above 50 indicates expansion. The October result marked a fourth consecutive month of growth, but the pace was the slowest in four months. S&P Global’s flash survey found that services activity also eased, with its index falling to 51.7 from 53.0. Manufacturing output slowed as well, though the sector’s output measure remained above the expansion threshold. France’s composite index dropped to 48.4 from 51.1, indicating a return to contraction after one month of growth. French businesses also reported falling confidence. The survey showed employment declining for a sixth consecutive month, mainly as companies left vacancies unfilled and allowed temporary contracts to expire. Germany’s composite index eased to 52.8 from 53.8, while its manufacturing PMI rose to 54.2, a two-month high. The survey also recorded the fastest increase in German manufacturers’ input costs since...