Mubasher: The Eurozone manufacturing purchasing managers’ index (PMI) activity growth has slowed in the final reading last month, but recorded the 80th successive monthly increase and the second highest level since 2000.
The index recorded 58.5 points in October, its highest level since February 2011, compared to the preliminary reading at 58.6 points and 58.1 points in September, data released by IHS Markit for the Eurozone’s PMI showed Thursday.
Analysts had expected the Eurozone’s manufacturing PMI activity to remain stable at October’s preliminary reading.
Moreover, the statement pointed out that all the surveyed countries showed record increases in both production and new orders.
“The eurozone manufacturing sector started the final quarter on a strong footing. Growth of both output and new orders remained elevated, while the pace of job creation accelerated to a survey-record high,” IHS Markit reported.
Eurozone growth was led by “a strong-performing core” in Germany, the Netherlands, and Austria, the report showed, indicating that PMI readings so no changes in Germany and Austria, but recorded a rise in the Netherlands. Expansions in Italy, which hit an 80-month record and Spain, which hits its highest level in 29 months, both accelerated, whereas France’s PMI held steady at September’s 77-month high.
By 11:11 am GMT, the euro increased against the dollar by 0.28% to reach $1.1652.
