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Back OfficeEconomic Buzz: Eurozone new order growth hits two-and-a-half year high in October
The rate of expansion was the joint-fastest in just under two-and-a-half years, equal with that seen in May 2024. Growth was recorded across both monitored sectors, and led by services where the latest increase in business activity was the strongest since August 2024.
Manufacturing production rose for the eighth month running. The latest expansion was slight, but marginally quicker than that seen in September.
The strongest increase in new orders for two-and-a-half years supported a faster expansion in Eurozone business activity in October, according to provisional PMI survey data.
Meanwhile, employment returned to growth as levels of backlogged work stabilised. The rate of input cost inflation eased and was weaker than the series average, but prices charged were raised at the sharpest pace in seven months.
Companies remained optimistic that output will rise over the coming year, but sentiment waned at the start of the final quarter of the year.
Companies often raised their business activity in response to a steeper increase in new orders during October as the pace of growth in new business reached the highest since April 2023.
Encouraging trends in output and new orders contributed to a renewed increase in staffing levels during October, following a marginal fall in September.
The rate of input cost inflation eased for the second month running in October, dipping to a three-month low and coming in below the series average.
Although Eurozone manufacturers continued to scale back their purchasing activity in October, the pace of decline eased from that seen in September.
Despite stronger expansions in output and new orders in October, business confidence waned to a five-month low and was weaker than the series average.
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