Eurozone's composite business index suggest slowing growth

The composite index for business in the eurozone slid in October, but not as steeply as previously reported, Markit Economics reported Wednesday. Markit said the final estimate of its monthly composite index for the region that incorporates indexes for manufacturing and service, came in at 51.9. Although numbers above 50 indicate growth and the final estimate beat the flash estimate, the final figure remains a decline from the 52.2 mark in September, a 27-month high. The flash index incorporates 85 percent of the data that goes in the final estimate. Markit said gains were led by growth in manufacturing, while the service sector purchasing managers index showed growth, but at a slower pace than September. Ireland remains at the top of the pack with the all-sector output index at 58.8, an 80-month high. Second on the list is Germany with an all-sector output mark of 53.2, unchanged from September. Italy at 51.3, France at 50.5 and Spain at 50.1 complete the top five.