Eurozone manufacturing PMI rises to 46, still in contraction

The HCOB Eurozone Manufacturing PMI was slightly revised upward to 46 in October 2024, an increase from the initial reading of 45.9 and up from 45 in September.

Eurozone manufacturing PMI rises to 46, still in contraction

While the PMI remains below 50, indicating continued contraction, this improvement points to a slower rate of decline in the Eurozone’s manufacturing sector—the mildest drop since May. This October reading marks the twenty-eighth consecutive month of contraction, representing the most prolonged downturn since records began in 1997.

Production volumes fall for nineteenth month amid job cuts

Production volumes decreased for the nineteenth month, driven by a further decline in new factory orders, which resulted in additional job cuts. On a positive note, the pace of declines in output, sales, and employment slowed, although business confidence fell to its lowest level in a year.