Eurozone business activity grows more slowly in October

Business activity in the euro area grew in October but at a slower rate, influenced by unrest in France and rising costs. The eurozone PMI fell to 51.9 from 53.1 in September, indicating growth but at a reduced pace. S&P's chief economist noted that while the decline is concerning, it remains one of the better performances in recent years. The French services sector experienced a notable drop in activity, attributed to strikes and unrest, impacting overall eurozone growth. Despite mixed sentiments across the region, inflationary pressures and increased borrowing costs from the European Central Bank are dampening demand.