Business activity in Germany's key manufacturing sector surged to its highest level in nearly three years in October resulting in the eurozone posting its best economic performance so far this year, an indicator released on Monday showed, according to dpa. The London-based IHS Markit research group said its closely watched purchasing managers' index (PMI) for the German manufacturing and services sectors rose to a three-month high of 55.1 points in October from 52.8 in September. This was well above the reading of 50 points, which marks the difference between economic contraction and expansion. "The German economy has entered the fast lane again at the start of the fourth quarter, with output growth accelerating from September's recent low," said IHS Markit economist Oliver Kolodseike. The solid performance by the German PMI helped to drive the composite index for the 19-member eurozone to a 10-month high of 53.7 - up from 52.6 in September.