EUROZONE MANUFACTURING PMI EASES TO 52.7 AS REGIONAL GROWTH DIVERGES
Eurozone manufacturing activity expanded at a slightly slower pace in October, with the S&P Global Manufacturing PMI falling to 52.7 from 52.9 in September, according to ActionForex. The index remained above the 50.0 expansion threshold for a ninth consecutive month.
Manufacturing output also slowed, with the PMI Manufacturing Output Index declining to 52.8 from 53.6, its lowest level in four months. ActionForex reported that total new-order growth moderated, while export orders recorded their strongest increase in more than four-and-a-half years.
Growth remained uneven across the region. Germany’s Manufacturing PMI rose to 54.2 from 53.9, marking its second-highest reading in almost four-and-a-half years. In contrast, France’s PMI fell to 49.5 from 50.6, returning to contraction as output and new orders weakened. Italy also moved back into contraction, with six of the eight surveyed Eurozone economies reporting improvements.
Cost pressures strengthened during the month. According to ActionForex, supplier delivery times lengthened at their sharpest pace since June, while input-cost inflation reached a five-month high. Manufacturers also increased purchasing activity at the fastest pace since May 2022 and raised input inventories for the first time since December 2022.
According to ActionForex, the survey points to a resilient but uneven manufacturing expansion.
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