Eurozone Composite PMI rises slightly as business activity contracts

The HCOB Flash Eurozone Composite PMI increased to 49.7 in October 2024, up from a seven-month low of 49.6 in September, though it fell short of expectations of 49.8.

Eurozone Composite PMI rises slightly as business activity contracts

Business activity in the Eurozone declined for the second consecutive month, with a slight easing in services growth (51.2 compared to 51.4) and a milder downturn in manufacturing (45.9 compared to 45). Output was reduced due to a weakening demand environment, with new orders declining for the fifth straight month. In response to lower workloads, companies cut employment at the fastest rate in nearly four years, and business confidence fell to an 11-month low.

Input costs rise slowly; Germany and France lead declines in business activity

Additionally, input costs have risen slowly since November 2020, while output charge inflation eased to a 44-month low. Germany and France continued to be the primary sources of weakness, experiencing significant reductions in business activity.