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- Eurozone's preliminary manufacturing PMI remains unchanged in October, while services PMI rises
Eurozone's preliminary manufacturing PMI remains unchanged in October, while services PMI rises
Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for the Eurozone on Friday. Eurozone's preliminary manufacturing PMI remained unchanged 52.0 in October, beating expectations for a decline to 51.7.
Eurozone's preliminary services PMI rose to 54.2 in October from 53.7 in September. Analysts had expected the index to decrease to 53.5.
Markit's Chief Economist Chris Williamson said that Eurozone's economy "picked up some momentum in October".
"The PMI remains at a level signalling a modest 0.4% quarterly rise in GDP, suggesting the region will struggle to attain more than 1.5% overall growth in 2015. The rate of job creation, although on the rise, remains insufficient to make serious headway into reducing unemployment," he added.
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