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Eurozone manufacturing falls below estimates in Oct

by ChemOrbis Editorial Team - content@chemorbis.com
  • 04/11/2014 (15:28)
Eurozone manufacturing fell below estimates in October, according to data from Markit Economics. A final reading for a Purchasing Managers Index (PMI) hardly rose to 50.6, up from a reading of 50.3 posted in the previous month. Any reading above 50 indicates expansion. Initial forecasts released on October 23 called for a reading of 50.7.

The region’s weaker results was attributed to weak demand restricting growth of both production and employment across the region and to lower production rates in both France and Italy. Within the region, the PMI index for Ireland, the Netherlands, Spain and Germany increased while France and Italy signaled a contraction.

The eurozone economy grew by 0.2% in the third quarter of this year, according to Bloomberg. Initial estimates show gross domestic product (GDP) rose 0.3% and 0.2% in Germany and France, respectively while Italy signaled stagnation in the economy. Final figures will be released mid-November.
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