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Eurozone business activity hits fresh low

Business activity in the eurozone contracted at its fastest pace in almost three-and-a-half years in October, a survey suggests.

Business activity in the eurozone contracted at its fastest pace in almost three-and-a-half years in October, a survey suggests.

The Markit Flash Eurozone Purchasing Managers' (PMI) Composite Output Index fell to 45.8, from 46.1 in September.

A figure below 50 indicates contraction. However, manufacturers said they expected a modest recovery in output in the next three months.

Nigel Cassidy reports.