European S&P Global Manufacturing PMI Final (Oct) 52.7 vs. Exp. 52.4 (Prev. 52.9)
ORIGINAL · NewsquawkEuropean S&P Global Manufacturing PMI Final (Oct) 52.7 vs. Exp. 52.4 (Prev. 52.9)Read originalHide original
"increased defence spending, precautionary inventory building, diversification and changing trade patterns due to US tariffs have created growth opportunities for many producers". "However, growth is by no means broad-based, with manufacturers in France and Italy in particular continuing to struggle, the former suffering the additional stress of domestic political uncertainty". "Furthermore, with input cost inflation surging sharply higher again in October, climbing to one of the highest rates seen over the past four years thanks to higher energy prices and supply bottlenecks, the latest PMI data add to pressure on the ECB to hike rates further in the coming months, providing another headwind to businesses".
October’s final PMI beat expectations but eased from the previous reading; the report cites uneven growth opportunities and rising input-cost inflation.
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"increased defence spending, precautionary inventory building, diversification and changing trade patterns due to US tariffs have created growth opportunities for many producers". "However, growth is by no means broad-based, with manufacturers in France and Italy in particular continuing to struggle, the former suffering the additional stress of domestic political uncertainty". "Furthermore, with input cost inflation surging sharply higher again in October, climbing to one of the highest rates seen over the past four years thanks to higher energy prices and supply bottlenecks, the latest PMI data add to pressure on the ECB to hike rates further in the coming months, providing another headwind to businesses".
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