Eurozone business activity continues growing but loses momentum.

Eurozone composite PMI dropped to 51.9 in October from 52.2 in September and the services reading also declined, although overall business activity still grew for the fourth consecutive month. The surveys indicate a loss of momentum at the start of Q4, says Markit, raising "concerns that the upturn is faltering" and increasing the pressure on the ECB "to reinvigorate the recovery." Still, the economy is expanding across the board in Germany, France, Italy and Spain.