(MENAFN) The euro area purchasing managers' index (PMI) surged marginally to 47.1 last month from 46.4 in the prior month, as said by an announcement on Thursday by figures provider S&P Global.
"However, by posting another sub-50.0 reading -- the fifth in as many months -- the headline index signaled a further deterioration in the health of the goods-producing sector," it mentioned.
The press meeting noted to extra softening in inflationary pressures, also pointing out that the rate of approaching additional orders also "fell sharply once again as client demand in markets across the eurozone and other parts of the globe deteriorated."
Chris Williamson, a head business economist at S&P Global, mentioned that the most recent PMI data was a signal of moderation in the euro area manufacturing downturn.
Pointing out that provider delivery times had extended during the last month, Williamson stated that "Future output expectations have picked up slightly on improved supply chain and energy market signals, the latter buoyed by warmer than usual autumn weather, but confidence remains amongst the lowest seen over the past decade."
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