Overview

• New orders declined at the sharpest pace since March, with weaker export demand cited by firms.
• Output expanded for a seventh straight month but slowed notably, with the production index easing to 50.9 from 52.5.
• Manufacturers cut jobs at the fastest rate in three months as employment conditions deteriorated.
• Companies continued to trim prices, marking a fifth consecutive month of lower selling prices as input costs edged down.
• Performance diverged across countries, with Germany, France and Italy contracting while the Netherlands, Greece, Ireland and Spain grew; France’s PMI fell to 48.2 as political uncertainty weighed and hiring skewed toward temporary roles.