Eurozone economy keeps up strong momentum toward year-end

LONDON – A survey shows that business activity grew at a high rate in the 19-country eurozone economy at the start of the final quarter of the year.

The purchasing managers’ index, a gauge of activity in the services and manufacturing sectors published Tuesday by IHS Markit, was at 55.9 points in October, down slightly from 56.7 in September. The index is on a 100-point scale, with anything above 50 indicating growth.

Though the index’s overall figure edged down, the relatively high level suggests the eurozone economy continued its strong period of expansion this year. Firms reported a rise in orders, leading to the need to hire more staff.

The rate of job creation was the highest in over a decade.