FX.co ★ Eurozone Services PMI Climbs to 14-Month High

The HCOB Eurozone Services PMI climbed to 52.6 in October 2025, up from 51.3 in September, signifying the most robust expansion in the sector since August 2024. This improvement was driven by a notable increase in new orders, which experienced their fastest growth since April 2023. This uptick in demand supported a renewed boost in staffing levels, following a slight decrease the previous month. Employment in the services sector surged, reaching its quickest growth rate since June 2024. Service providers also recorded the first build-up of backlogs in a year and a half, a clear sign of strengthening underlying demand. Regarding pricing, input costs rose more moderately, while output charges saw their sharpest increase in seven months, underscoring continued pricing power within the sector. Nevertheless, despite the solid advancements in activity and new business, business confidence slipped to a five-month low. Sentiment waned across key economies, affected by ongoing uncertainties and fragile external demand.