Germans lead business recovery in eurozone after shock Brexit vote
Brussels — Eurozone business picked up strongly in October to a 10-month high, recovering from a dip in September with Germany leading the way, Data monitoring company IHS Markit said on Monday. It said the October figures were encouraging, after months of the economy bumping along the bottom and then being rattled by Brexit. The firm’s preliminary October Composite Purchasing Managers Index (PMI) for the 19-nation eurozone jumped to 53.7 points from 52.6 in September. PMI measures companies’ readiness to spend on their business and so gives a good idea how the economy is performing. Any reading above the boom-bust 50 points line indicates the economy is expanding. By sector, the PMI for services rose to 53.5 points from 52.2 in September while manufacturing hit 53.3 points after 52.6. IHS Markit said strong German performance helped offset continued softness in France, the second-largest eurozone economy. "The eurozone economy showed renewed signs of life at the start of the fourth...
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