Overview

• Euro area manufacturing PMI fell to 49.8 from 50.7, with new orders dropping at the fastest pace in six months as output growth slowed, employment declined and both input costs and selling prices edged lower.
• France’s final PMI slid to 48.2 on a sharp output drop linked to deteriorating demand and political uncertainty, Germany printed 49.5 with renewed order declines, and Italy fell to 49.0 despite the first rise in factory jobs in a year.
• Spain cooled to 51.5, the weakest since June, with hiring turning negative and foreign demand deteriorating, while growth persisted in some smaller euro zone economies such as the Netherlands, Greece and Ireland.
• India’s PMI eased to 57.7, a four‑month low, as orders and output moderated, hiring slowed to a one‑year low and selling price inflation reached a near 12‑year high, even as optimism hit a seven‑month peak helped by GST cuts and firmer non‑US exports.
• The UK index dropped to 46.2, the lowest since April, as production and new orders weakened, factories cut staff for an 11th month and auto supply chains reported disruption from a Jaguar Land Rover cyberattack.