China’s manufacturing purchasing managers’ index saw a broad-based decline in October, while the non-manufacturing PMI managed to edge back into expansionary territory. Industrial activity has held up well despite soft PMI data year-to-date. Even so, this steeper downturn may raise some concerns
China’s manufacturing purchasing managers’ index was generally encouraging, rebounding to a six-month high in September. Yet, the non-manufacturing PMI disappointed by falling back to neutral levels
PMI data released today will be closely scrutinised to gauge how the eurozone economy has navigated uncertainty triggered by Trump’s tariffs threats. Besides some sentiment effect, it is too early to assess the impact on the economy of Germany’s bold policy response to recent geopolitical events, with a commitment to heavily invest domestically.
