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Eurozone Manufacturing Falls to Eight-Month Low

November 2, 2021 by Forex Winner Leave a Comment

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.

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