Eurozone manufacturing PMI rises, but output continues to decline

According to preliminary data, the HCOB Eurozone Manufacturing PMI increased to 45.9 in October 2024, reaching a five-month high from 45.0 in September and surpassing expectations of 45.3.

Eurozone manufacturing PMI rises, but output continues to decline

However, manufacturing output still contracted for the 19th consecutive month, albeit slightly slower than in September. New business declined as companies cut back on purchases and reduced inventories of materials and finished goods.

Supplier delivery times slow, input costs decline, and business sentiment weakens

Supplier delivery times lengthened for the second month, showing the worst performance since January. On the pricing front, input costs fell for the second straight month, declining fastest since March, while selling prices also dropped. Lastly, business sentiment continued to deteriorate.