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Eurozone manufacturing unexpectedly edges up in Oct

by ChemOrbis Editorial Team -
  • 23/10/2014 (14:39)
Eurozone manufacturing industry unexpectedly grew in October, according data compiled by Markit Economics. A Purchasing Managers Index for the Eurozone manufacturing sector rose to 50.7 in October after posting a reading of 50.3 in the previous month. Any reading above 50 indicates expansion. Initial forecast called for a decrease to 49.9, according to a survey conducted by Bloomberg.

In Germany, manufacturing unexpectedly climbed to post a reading of 51.8 compared to the reading of 49.9 posted in the previous month. In France, meanwhile, services and manufacturing contracted more than expected in October. French manufacturing and service sectors both weakened to 51.5 from 52, according to analysts’ reports.

The European Central Bank commented that the Eurozone continues to face downward risks as the EU’s two largest economies struggle to generate positive growth.
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