Further evidence has emerged to suggest the 18-country eurozone is more likely to sink back into recession than rebound strongly.
Though the purchasing managers' index — a broad gauge of business activity — from financial information company Markit rose 0.1 percentage point in October to 52.1, the index still points to very modest growth. Anything above 50 indicates expansion.
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For Chris Williamson, Markit's chief economist, this is consistent with an economy that is "limping along and more likely to take a turn for the worse."
Separately Wednesday, the European Union's statistics agency, Eurostat, found eurozone retail sales slumped 1.3 percent in September, against market expectations for a 0.7 percent fall.
The figures are not expected to prompt the European Central Bank to enact a further stimulus at Thursday's policy meeting.