Eurozone October Services PMI Revised to 51.4, Growth Slows Down

(1) In October 2026, S&P Global's Eurozone Services PMI was revised down from a preliminary 51.7 to 51.4, lower than September's 53, indicating a slowdown in services sector growth at the start of the fourth quarter. (2) New business inflows saw a slight decrease, a clear departure from the robust growth recorded in all months of the third quarter. (3) To support operational activity, companies drew down backlogs of work, with outstanding orders declining for the 11th time in the past 12 months. (4) October data also indicated a renewed decline in services sector employment, the first drop since May. (5) Price pressures in the services sector eased slightly, as both output charges and input cost inflation rates fell back for the first time since July.