Eurozone PMI Manufacturing Eases to 52.7 as Growth Diverges and Cost Pressures Rise - Action Forex

Eurozone manufacturing expansion moderated slightly in October, with S&P Global PMI Manufacturing easing from 52.9 to 52.7 , extending its run above the 50 threshold to nine consecutive months. The index remained consistent with solid growth, although the pace of improvement slipped to a two-month low. PMI Manufacturing Output also declined from 53.6 to 52.8, a four-month low, as total new orders increased more slowly despite export orders recording their strongest growth in over four-and-a-half years. Employment expanded for a third consecutive month, while backlogs continued rising at a relatively strong pace. Growth remained uneven across member states , with Germany’s PMI Manufacturing rising from 53.9 to 54.