Eurozone Preliminary Manufacturing PMI improves to 45.9 in October vs. 45.1 expected

• Eurozone Manufacturing PMI advanced to 45.9 in October, beating the 45.1 forecast.
• Bloc’s Services PMI dropped to 51.2 in October vs. 51.6 anticipated.
• EUR/USD keeps gains near 1.0800 after German, Eurozone PMI data.            

The Eurozone manufacturing sector contraction eased while the services sector activity deterirated further in October, according to the data from the HCOB's latest Purchasing Managers Index (PMI) Survey published on Thursday.

The Eurozone Manufacturing Purchasing Managers Index (PMI) rose to 45.9 in October from 45.0 in September, bettering the expected 45.1 print. The index rebounded to a five-month high.

The bloc’s Services PMI slipped to 51.2 in October from 51.4 in September. The data came in below the market consensus of 51.6 and reached an eight-month bottom.

more to come ....