Eurozone PMI falls to 51.9, fastest slowdown since 2020 as energy costs bite

Eurozone composite PMI dropped to 51.9 in October from 53.1, missing consensus of 52.7, signaling a sharper-than-expected slowdown. S&P Global attributes the deceleration to rising energy prices from Middle East tensions and ECB rate hikes, which are squeezing industrial margins and prompting price increases. The data suggests stagflationary pressure, complicating ECB policy as growth weakens while inflation risks persist.

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