Release of manufacturing and services purchasing managers' index data in the Eurozone.

The data released by the S&P Global Statistics Office on Thursday indicated positive results for the manufacturing Purchasing Managers' Index (PMI) in the Eurozone for the current month of October. The preliminary reading for the manufacturing PMI recorded a contraction at 45.9 points, which was better than expectations that indicated a figure of 45.1 points. The previous reading for the Eurozone last month was 44.8 points, which was revised to 45.0 points. This index measures the activity level of purchasing managers in the manufacturing sector and is primarily based on original survey data collected from 1,000 companies within the manufacturing and service sectors in the Eurozone. It is also based on approximately 85% of the total responses to the monthly Purchasing Managers' Survey. A reading above 50 indicates growth, while a reading below 50 reflects contraction. Additionally, the data showed that the preliminary reading for the services PMI in the Eurozone was largely in line with expectations, as the index recorded growth at 51.5 points, which matched market forecasts. It is worth noting that the previous reading for the services index in September was 50.5 points, which was revised upward to 51.4 points. It is important to note that this index measures the activity level of purchasing managers based on a survey conducted in the services sector. The Eurozone services PMI relies on data collected from about 500 companies in the service sector within the Eurozone. The index tracks several variables such as sales, employment, inventories, and prices within the Eurozone. Furthermore, it can be said that the preliminary estimates are based on approximately 85% of the total responses to the monthly Purchasing Managers' Survey. The index reading reflects a contraction in the services sector within the Eurozone if it is below 50, and growth if it is above.