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Eurozone manufacturing PMI tops forecasts in October

by ChemOrbis Editorial Team -
  • 02/11/2015 (16:23)
According to a final purchasing managers’ index (PMI) compiled by Markit Economics, growth in manufacturing activities in the eurozone expanded at a faster pace than economists’ initial estimates in October. Markit’s PMI rose to a reading of 52.3 in October from September’s five month low flash estimate of 52.

Markit’s final index revealed that output, new orders and employment all came in stronger than the earlier flash estimates.

Across the region, Germany’s manufacturing PMI fell to a reading of 52.1 in October from a reading of 52.3 in September, posting the lowest level in three months due to slowing production and job creation while exceeding the flash score of 51.6. France’s manufacturing PMI remained steady at 50.6 in October, missed initial estimates calling for a reading of of 50.7.

Manufacturing in Italy, on the other hand, rose in October, posting a reading of 54.1 after registering 52.7 in September. Economists had expected Italy’s PMI to increase to a reading of 53 in October. The new orders index rose to 55.3 from a reading of 53.9 and the sub-index for external orders also increased.

Markit’s UK manufacturing PMI was reported at 55.5, up from a reading of 51.8 in September. The UK’s final PMI exceeded expectations, showing the highest reading since June 2014.
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