Eurozone manufacturing PMI slightly fell to 52.7 in October, expansion remains robust

(1) In October 2026, the Eurozone S&P Global Manufacturing PMI edged down slightly to 52.7 from September’s four-year high of 52.9, but was slightly above the initial reading of 52.4, indicating that manufacturing continues to expand. (2) Output growth slowed to a four-month low, but overall remained robust. (3) The growth rate of new business slowed, employment continued to grow, and purchasing activity expanded at the fastest pace since May 2022. (4) Due to extended supplier delivery times and accelerating input cost inflation, manufacturers increased inventory accumulation at the fastest pace in nearly four years. (5) Input prices rose at the fastest rate since May, prompting manufacturers to sharply raise sales prices, although the increase was basically unchanged from September. (6) Meanwhile, business confidence remained in positive territory, but weakened further, falling below the long-term average.