In October the Eurozone manufacturing PMI dropped to 45,4 points, from 46,1 in September (estimates at 45,3). However, the situation varies across countries. In Italy, the figure dropped to 45,5 points from 45,7 (estimates at 45,3), marking the 15th consecutive month below 50 points, the threshold that marks the boundary between expansion and contraction.
In Germany, the PMI fell to 46 points from 47,4 (estimates at 45,7), while in France rose to 43,7 from 42,7 (estimates at 43,5). In Spain, the manufacturing PMI dropped to 43,5 points in October from 44,5 points the previous month, indicating a further deterioration in the operating conditions of the sector. This is the most significant drop in three months.
