The Eurozone's economy showed stagnation in October, as the composite Purchasing Managers' Index (PMI) for the region's private sector activity remained unchanged at 50.0 from the previous month, S&P Global reported in its latest release. This followed an initial estimate of a rise to 49.7 points. Economists had expected the reading to be confirmed.

A PMI figure above 50 indicates growth, while a reading below 50 signals contraction. The data suggests the Eurozone economy is struggling to gain momentum, with both the manufacturing and services sectors experiencing tepid performance.

Meanwhile, Eurozone producer prices declined in September, falling 0.6% compared to the prior month, according to Eurostat. Economists had forecast a 0.7% drop. On an annual basis, producer prices were 3.4% lower, slightly better than the expected 3.5% decrease.