Eurozone private sector growth eased sharply to a six-month low in October amid rising supply bottlenecks and COVID-19 concerns, flash survey results from IHS Markit showed on Friday. The composite output index dropped to 54.3 in October from 56.2 in September. The reading was expected to fall to 55.2. Although the October expansion was the weakest since April, the latest reading remained above the survey's pre-pandemic long-run average of 53.0 to signal above-trend growth. By sector, services outperformed manufacturing for the second straight month. The services Purchasing Managers' Index came in at 54.7 in October, down from 56.4 in September. At the same time, at 58.5, the manufacturing PMI slid to an eight-month low from 58.6 in September.
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