Eurozone manufacturing PMI contracts for the fourth month

The final Eurozone manufacturing purchasing managers’ index fell to 46.4 in October, its lowest level in 29 months, from 48.4 in September.

The PMI is still below the 50 mark, indicating that the manufacturing sector in the Eurozone continues to contract, recording a decline for the fourth consecutive month.

The PMI was hurt by a slump in new orders and business confidence amid concerns about inflation, geopolitical uncertainty, and a sluggish global economy.

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