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Oct. 22, 2021, 4:23 a.m. EDT

Flash eurozone composite and services PMI indexes hit six-month lows in October

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By Barbara Kollmeyer

The flash eurozone composite output purchasing managers index (PMI) to a six-month low in October of 54.3, from 56.2 in September, according to IHS Markit. The flash services PMI dropped to 54.7 from 56.4, also a six-month low. Any reading blow 50 indicates conditions are deteriorating. While those numbers were above 50, Markit noted a sharp slowing in business activity amid increasingly supply bottlenecks and ongoing concerns over COVID. "While the overall rate of economic growth remains above the long-run average for now, risks seem tilted to the downside for the near-term as the pandemic continues to disrupt economies and push prices higher," said Chris Williamson, chief business economist at IHS Markit, in a news release.

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