News Summary: Eurozone recession worsens-survey

GRIM OUTLOOK: Europe appears headed for a deepening economic recession despite a recent easing in market concerns over the three-year debt crisis, a survey reported.

LESS BUSINESS ACTIVITY: The purchasing managers' index for the 17-country eurozone fell to 45.9 in September from 46.3 in August, according to financial data company Markit.

SURPRISE DECLINE: September's rate was the lowest in more than three years and came despite an easing in the rate of economic contraction in Germany, the eurozone's largest economy.