Economic activity in the euro zone shrunk in October as coronavirus restrictions returned to the region, preliminary data showed on Friday, CNBC reports. The flash euro zone PMI composite output index, which looks at activity in both manufacturing and services sectors, dropped to a four-month low in October to 49.4, versus 50.4 in September. A reading below 50 represents a contraction in activity. The latest numbers coincided with a period of new restrictions across the euro zone as it grapples with a second wave of coronavirus infections. France’s composite output index came in at 47.3 in October, a five-month low, in comparison with 48.5 in September.

Source: The Standard October 23, 2020 08:37 UTC