Source: Sharecast
A final reading of the HCOB PMI came in at the expansion mark of 50, up slightly from September's 49.8.
Hamburg Commercial Bank chief economist Cyrus de la Rubia, said the rise was a “very delicate sprout of economic recovery”.
"That said, the pace of growth remained mild amid stagnant new orders and lower employment. Inventory reductions continued, with volumes of both production inputs and finished goods decreasing to extend a protracted sequence of destocking," He added.
"Notably, Input costs were unchanged from September, but prices charged were increased marginally. Looking ahead, eurozone manufacturers were optimistic that output levels would be higher in 12 months’ time. However, expectations nudged slightly lower on the month and were weak by historical standards."
"Output has risen for eight consecutive months, but there is no real momentum as it is increasing at pretty much the same modest pace as in the previous months. Meanwhile, demand across the eurozone economy remained subdued, with new orders stagnating at the same level as the month before."
Reporting by Frank Prenesti for Sharecast.com
