The HCOB Eurozone Services PMI rose to 52.6 in October 2025 from 51.3 in September, marking the strongest expansion in the sector since August 2024. The improvement reflected a solid rise in new orders, which grew at the fastest pace since April 2023, supporting a renewed increase in staffing levels after a marginal decline in September. Job creation in the services sector accelerated to the fastest rate since June 2024. Service providers also reported the first accumulation of backlogs in 18 months, indicating stronger underlying demand. On prices, input costs increased at a softer pace, while output charges rose at the fastest rate in seven months, highlighting continued pricing power in the sector. Despite solid gains in activity and new work, business confidence eased to a five-month low, with sentiment weakening across major economies amid lingering uncertainty and fragile external demand.