Industry News

Eurozone manufacturing PMI rises to 46 in Oct

Views : 18
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.
Related News
Read More >>
Vedanta Aluminium signs 5-year natural gas deal with GAIL in shift to renewable energy Vedanta Aluminium signs 5-year natural gas deal with GAIL in shift to renewable energy
Nov .21.2024
Vedanta Aluminium signs 5-year natural gas deal with GAIL in shift to renewable energy
Australian Aluminium Council unites with AAEA, strengthening the downstream manufacturing sector Australian Aluminium Council unites with AAEA, strengthening the downstream manufacturing sector
Nov .21.2024
Australian Aluminium Council unites with AAEA, strengthening the downstream manufacturing sector
Alumina price hike ratio takes a step back; aluminium extrusion export drop potent to lead ingot price drop Alumina price hike ratio takes a step back; aluminium extrusion export drop potent to lead ingot price drop
Nov .21.2024
Alumina price hike ratio takes a step back; aluminium extrusion export drop potent to lead ingot price drop
Rio Tinto collaborates with GravitHy for steel decarbonization project in France Rio Tinto collaborates with GravitHy for steel decarbonization project in France
Nov .21.2024
Rio Tinto collaborates with GravitHy for steel decarbonization project in France