The HCOB Eurozone Composite PMI rose to 52.2 in October of 2025 from 51.2 in the previous month, ahead of market expectations of 51 to reflect the sharpest pace of expansion since May 2024. The expansion was carried by the services sector (52.6 vs 51.3 in September), which rose to a fresh one-year high, while the manufacturing sector unexpectedly avoided a contraction (50 vs 49.8). New orders accelerated in the period with strong support from domestic clients, offsetting a fresh drop in export business. The signals drove firms to increase their staffing levels to erase last month's slight decrease. Likewise, backlogs of work refrained from dropping from for the first time since April 2023. Input cost inflation eased for a second month, although output charges accelerated the most in seven. Looking forward, business confidence waned to a five-month low.