Preliminary S&P Global surveys for October put US manufacturing PMI at 56.0, the highest reading since May 2022 and above the 55.5 consensus, while the euro area manufacturing index slipped to 52.4 from 52.9. Euro area services and the composite gauge also softened, with the composite at a four-month low of 51.9, yet most major economies remain in expansion territory and continue to support demand for industrial and process equipment. France was the exception, with manufacturing, services and output all dropping below 50 as budget uncertainty weighed on investment.
This is an editorial summary written by Xinray Technology. All rights to the original report belong to Tonghuashun Finance.
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