The Investor
02 Nov 2026, 09:05
Eurozone Manufacturing Stays in Expansion as Spain and Germany Outperform, Italy and France Contract
Eurozone manufacturing activity remained in expansion territory in October, with the HCOB Manufacturing PMI at 52.7. The reading came in above the 52.4 forecast but slightly below the previous 52.9.
Spain delivered one of the strongest results, with its manufacturing PMI rising to 52.2 from 51.0 and beating the 50.4 forecast. Germany also remained solid at 54.2, matching expectations and improving from 53.9.
Conditions were weaker in Italy and France. Italy’s PMI fell to 49.4 from 50.4, below the 49.9 forecast, while France remained in contraction at 49.5 despite beating expectations of 49.3.
Outside the euro area, Switzerland’s procure*ch Manufacturing PMI jumped to 56.7 from 55.3, also exceeding forecasts.
Overall, the data points to continued manufacturing expansion across the eurozone, but with a clear divergence between stronger activity in Germany and Spain and persistent weakness in France and Italy.
Eurozone manufacturing activity remained in expansion territory in October, with the HCOB Manufacturing PMI at 52.7. The reading came in above the 52.4 forecast but slightly below the previous 52.9.
Spain delivered one of the strongest results, with its manufacturing PMI rising to 52.2 from 51.0 and beating the 50.4 forecast. Germany also remained solid at 54.2, matching expectations and improving from 53.9.
Conditions were weaker in Italy and France. Italy’s PMI fell to 49.4 from 50.4, below the 49.9 forecast, while France remained in contraction at 49.5 despite beating expectations of 49.3.
Outside the euro area, Switzerland’s procure*ch Manufacturing PMI jumped to 56.7 from 55.3, also exceeding forecasts.
Overall, the data points to continued manufacturing expansion across the eurozone, but with a clear divergence between stronger activity in Germany and Spain and persistent weakness in France and Italy.
