Eurozone business activity growth lowest for 20 months

Eurozone business activity expanded at its weakest rate since the start of 2015 this month, as growth paths diverged but firms stopped cutting prices for the first time in a year, surveys showed yesterday.

Markit’s composite survey showed a big split between buoyant manufacturers and struggling service industry firms and a similar divide in growth rates among members of the currency union.

“It’s a pretty disappointing end to the third quarter. We have seen unevenness between manufacturing and services but also between the nations,” said Rob Dobson, director of economic indices at Markit.