Markit's Eurozone Manufacturing Purchasing Managers Index (PMI) posted 58.5 points in October this year, up from September’s 58.1 points and declining from 58.6 points in the earlier flash estimate.
The euro zone manufacturing sector started the final quarter on a strong footing. Growth of both output and new orders remained elevated, while the pace of job creation accelerated to a survey-record high.
Capacity pressures impacted on supply chains during October, as reflected by a further substantial lengthening in vendor lead times.
The outlook for the euro area manufacturing sector also remained positive in October.
“October’s PMI was the highest since February 2011 and the second-highest in over 17 years. The overall performance of the manufacturing sector so far this year has been the strongest since 2000,” stated Chris Williamson, chief business economist at IHS Markit.