Manufacturing PMI rises to 26-month highs, services PMI falls to lows since May

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IHS Markit has released its Eurozone PMI data for the month of October, reflecting a steady pace of recovery in the manufacturing sector and one contraction in services due to increased restrictions in the countries of the region to fight against the coronavirus.

The preliminary manufacturing PMI for the month of October showed a rise to 54.4 from September’s 53.7, reaching a 26-month high and exceeding the 53.1 forecast by the market.

The Services PMI has fallen to 46.2 from 48.0 the previous month, marking a five-month low and disappointing the 47 points forecast.

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Credits: Forex Street

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