Eurozone private sector activity slows for second straight month

Eurozone private sector activity slowed for a second month, pressured by a lack of signs of economic recovery.

The S&P Global Composite Purchasing Managers’ Index (PMI) rose to 49.7 in October, remaining below the 50-point mark that separates it from growth.

Analysts and investors expect the European Central Bank to continue cutting interest rates to support economic growth in the eurozone amid crises facing countries’ economies, in addition to declining inflation.