


But inflation in the euro zone still languishes at less than half the ECB's target and October's preliminary Purchasing Managers' Index (PMI) readings add weight to fears the economic outlook is darkening once again. 

IHS Markit's flash composite PMI, seen as a good guide to economic health, was 50.2, just above September's more than six-year low final reading of 50.1.


Germany's export-dependent manufacturing sector remained in contraction this month, earlier data showed, suggesting a third-quarter slowdown in Europe's largest economy could stretch into the closing months of the year. 


Meanwhile, Norway's central bank kept its main interest rate unchanged today, as predicted, as did Sweden's. 




A PMI for the bloc's dominant service industry nudged up to 51.8 from September's 51.6, which had been its lowest reading since the start of this year. Economists had expected 51.9. 



It held steady at September's 45.7, a low not seen in seven years and missing the median expectation for 46.

The manufacturing output index, which feeds into the composite PMI, was 46.2, just pipping last month's 46.1 but its ninth sub-50 reading in a row. 

October's weak results were despite factory gate prices falling for a fourth month. The output prices index was 48.9 compared to September's 48.6.