Euro Zone Composite PMI reached a 2.5-year high in October.

PMI Data Rising in the Euro Zone

S&P Global and Hamburg Commercial Bank (HCOB) published the final data of the Euro Zone composite Purchasing Managers' Index (PMI) for October. According to the data, the composite PMI in the Euro Zone rose from 51.2 to 52.5 in October.

Highest Level since May 2023

This increase represents the highest level reached by the Euro Zone since May 2023. The median estimate of economists participating in a Bloomberg survey was that the PMI would rise to 52.2.

Service PMI Also on the Rise

In addition, the service PMI, released alongside the composite PMI, also showed a significant increase, reaching 53. This is the highest value recorded since May 2024.

Positive Views on the Economy

Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, stated, "Finally, there is good news about the Euro Zone economy. The service sector recorded a solid rise in October. To see strong growth in new jobs, one has to go back to May of last year."