The declining growth rate in Euro area industry in October has been confirmed. This was shown on Tuesday by final figures from Markit.
The Purchasing Managers Index for the monetary union industry fell from 58.6 to 58.3 in October. Preliminary figures indicated a smaller decrease to 58.5.
Markit’s economist Chris Williamson noted that manufacturers reported a deterioration in the supply chain situation. That clearly pushed the production. An index position greater than 50 indicates growth, while less than 50 means contraction.
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