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11/2/2020, 10:01 AM (Source: TeleTrader)
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Eurozone manufacturing growth strengthens in October

The Eurozone's manufacturing sector continued to strengthen in October as evidenced by the latest Manufacturing Purchasing Managers Index (PMI) for October. According to the final report by IHS Markit published on Monday, the euro area's manufacturing PMI landed at 54.8, up from the 53.7 recorded in September and above expectations.

Growth was observed across all three market groups, however, the expansion was been "worryingly" uneven, the report noted.

"The renewed weakness of consumer-facing businesses serves as a reminder that, while manufacturing as a whole may be booming, for now, the sustainability of the recovery will depend on household behavior returning to normal and labor markets strengthening. Given second waves of virus infections, this still looks some way off," Chief Business Economist at IHS Markit Chris Williamson commented in the press release.

Breaking the News / JC