05.11.202510:04:51UTC+00Eurozone Business Activity Grows at Fastest Rate Since 2023

In October 2025, the HCOB Eurozone Composite PMI advanced to 52.5, surpassing the preliminary forecast of 52.2 and the previous month's figure of 51.2. This development represents the most robust expansion since May 2023, reflecting a significant rebound from the tepid growth seen throughout much of 2025. The increase was driven by a sharp acceleration in services activity, while manufacturing output experienced only a slight uptick. This growth was underpinned by stronger demand, with new business increasing at its fastest rate in two and a half years. Employment growth also reached a 16-month peak, despite firms showing slightly softened expectations for future activity. On the pricing front, input cost inflation eased for the second consecutive month, yet output charges saw their fastest increase in seven months, indicating some persistent price pressures in the services sector.