Eurozone service sector contracts at record pace in October
Nov 5th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Eurozone service sector contracted at record pace in October. At 45.8, the final reading of the Business Activity Index came in below the flash estimate of 46.9, down from 48.4 in September. The latest reading signalled a marked acceleration in the rate of service sector contraction during October and the largest monthly drop in activity since the survey began in July 1998. Service sector business activity levels have now fallen for five successive months.