Manufacturing growth in Euroarea

Eurozone Markit manufacturing PMI data for October 2015, that was published today, showed an improvement. 

The indicator has gone to 52.3 points in October, which exceeded average expectations for a value of 52 points. For comparison - in September, its value amounted to 52 points.

A value above 50 indicates an improvement in the sector. Best result in the eurozone showed Germany. In the largest European economy PMI index amounted to 52.1 against expectations of 51.6 points and 52.3 points a month earlier.

Italy is another country where the result is significantly ahead of average market expectations. The index amounted to 54.1 points with expectations for 52.9.

In France, the value of the index is 50.6 points, or again below expectations of 50.7 points.

Spain also performed worse than expected with a value of 51.3 points with expectations for 51.9 points.

„The eurozone manufacturing recovery remains disappointingly insipid. The October survey is signalling factory output growth of only 2% per annum, a lacklustre performance given the amount of central bank stimulus in place”, said Chris Williamson, Chief Economist at Markit.