The manufacturing activity in the Eurozone's private sector saw another slight drop in October, with the Purchasing Managers' Index going from September's 43.4 to 43.1, its three-month low, S&P Global unveiled in its report published on Thursday.
Meanwhile, the Manufacturing PMI Output Index remained at 43.1, unchanged from the previous month. The document highlighted that the decline in factory orders is "among sharpest on record."
"The Eurozone manufacturing sector's trend over the last two years or so looks like a bumpy sleigh ride down into the valley. Given that the headline PMI did barely move over the last few months, including October, we may be about to reach the bottom of the valley. Thus, the big question is when we will begin to make an ascent," HCOB Chief Economist Dr. Cyrus de la Rubia said.
