Eurozone October PMI hits two-year high, supporting the European Central Bank to pause interest rate cuts.

Wisdom Finance APP learned that the final data of SPGI Eurozone PMI in October showed that the Eurozone economy expanded at the fastest pace since May 2023 in October, breaking the sluggish growth pattern earlier this year, as service sector activity accelerated and demand improved. The HCOB Eurozone Composite PMI compiled by S&P Global rose from 51.2 in September to 52.5 in October, marking the 10th consecutive month of growth and reaching the highest level in 29 months. In particular, the final value of the Eurozone SPGI service PMI in October was 53, also higher than expected.