Eurozone Manufacturing Falls to Eight-Month Low

Source: IHS Markit

Eurozone manufacturing slowed to an eight-month low in October, as supply issues dampened production during the month. EZU is up 0.91%.

• The final IHS Markit Eurozone Manufacturing PMI stood at 58.3 in October, lower than the flash estimate of 58.5 and lower than 58.6 in September.
• The latest reading is the lowest level in eight months since February.
• The highest performance was recorded in the Netherlands, Ireland, Italy, and Austria with levels above 60.
• Growth was also recorded in Greece, Germany, Spain, and France, which were also above the 50 threshold that separates expansion and contraction.
• The deceleration was attributed to supply-side issues, dragging average lead times.
• Low shipping container availability, widespread shortages of components and raw materials, and transport issues were also reported during the month.