By Daniel Hunter

Business activity in the eurozone picked up slightly in October, according to a closely watched survey.

The Markit Economics Purchasing Managers' Index (PMI) for business activity in the eurozone rose slightly to 52.2 in October, up from the 10-month low of 52.0 reported in September.

But the survey did little to suggest that there is any sign of a recovery for the eurozone, with new orders remaining low and pressure on prices increasing.

France saw a big slowdown in business activity, with its employment market suffering as well. Markit said that prices fell at their fastest rate since 2009 and businesses were cutting jobs at the fastest rate since April 2013.

But there was more positive news for Germany, with its best PMI score for three months. It went some way towards allaying the fears that Germany, the biggest economy in the eurozone, is heading for a third recession in six years.

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