Euro zone economy expands at fastest pace in over two years

The euro zone economy grew at its fastest pace in over two years in October, driven by a strong rebound in services activity and improved demand. The HCOB Eurozone Composite PMI rose to 52.5, indicating sustained growth for the tenth consecutive month, with new business volumes seeing the steepest increase in 21/2 years. Spain and Germany showed notable expansion, while France was the only major economy in contraction, impacting overall euro zone growth.