The decline is driven by manufacturing. Sentiment in services was positive in September and October but remains at its lowest level since June 2015. Services account for two-thirds of the Eurozone economy.
As the Eurozone economy is slowing, the export-dependent German economy is under greater pressure while French €10bn government stimulus is helping push the economy forward. German economic sentiment fell for the second straight month and to its lowest level in more than six years.
https://www.neweurope.eu/article/as-eurozone-economy-loses-momentum-france-takes-the-economic-lead/