Data released at the beginning of the European session today, Friday, October 24, showed improvements in most of the services and manufacturing Purchasing Managers’ Indices (PMIs) in the Eurozone and the United Kingdom in October. The Eurozone Services PMI rose to a 14-month high of 52.6 in October, compared to 51.3 points in September (expected 51.2). Meanwhile, the Manufacturing PMI rose to a two-month high of 50.0 from 49.8 in September (expected 49.8).

In detail, the French Services PMI fell to 47.1 in October, compared to 48.5 in September, its lowest reading in eight months (expected 48.7). Meanwhile, the Manufacturing PMI rose to 48.3 in October, its highest reading in two months, compared to 48.2 in September (expected 48.2).

From Germany, the services index rose to a 29-month high of 54.5 in October, compared to 51.5 in July, better than expectations of 51.1. The manufacturing index also rose to 49.6, compared to September’s reading of 49.5, its highest reading in two months (expected 49.5).
Similarly, data from the United Kingdom showed an uptick, with the manufacturing index exceeding expectations in October at 49.6, recording a 12-month high compared to September’s reading of 46.2. Meanwhile, the services index rose to a two-month high of 51.1, compared to September’s reading of 50.8, which was expected (51.0).