Eurozone manufacturing PMI rises to 46 in Oct
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Update time : 2024-11-05 17:03:34
Eurozone manufacturing showed slight stabilization in October, as the PMI Manufacturing Index rose to 46.0 from September's 45.0, though it remains in contraction territory.
Among countries, Spain led with a PMI of 54.5, marking a 32-month high, followed by Ireland at 51.5 and Greece at 51.2. Conversely, the Netherlands and Austria reported declines, with PMIs at 47.0 and 42.0, respectively. Germany's index rose to 43.0, a three-month high, while France held steady at 44.5.
Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, observed that although the manufacturing downturn "did not deepen further," challenges remain. Lower input costs have created a "deflationary" environment, but intense competition, including from China, has squeezed profit margins as firms pass on price cuts to customers.
