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Business growth struggles to gain traction in euro zone

CCTV.com

11-05-2016 01:57 BJT

Business activity in the euro zone last month was not as robust as first thought. That's because firms held prices steady for the second straight month despite costs rising at their steepest rate since last July.

Markit's final composite Purchasing Managers' Index for the euro zone was 53.3 in October, below a 53.7 flash estimate.

The weaker than expected reading indicates that companies' pricing power remained muted and that the European Central Bank might have to do more to drive up inflation.

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