Investing.com – Manufacturing activity in the euro zone rose unexpectedly in October, rising to its highest level in 2 months, preliminary data showed on Thursday.
In a report, market research group Markit said that its preliminary manufacturing purchasing managers index rose to a seasonally adjusted 54.1 in October, up from 53.7 in September, whose figure was revised up from 553.6.
Analysts had expected the index to decline to 53.2 in October.
A reading above 50.0 on the index indicates industry expansion, below indicates contraction.
The report also said that service sector activity in the euro zone fell more-than-expected in October. The preliminary services purchasing manager's index declined to a seasonally adjusted 53.2 in October, after falling to 54.1 in September, whose figure was revised up from 53.6.
Analysts had expected the index to decline to 53.8 in October.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.58% to hit 1.4045.
Meanwhile, European stock markets were up. The EURO STOXX 50 gained 0.42%, France’s CAC 40 added 0.52%, the FTSE 100 rose 0.59% and Germany's DAX was up 0.42%.
In a report, market research group Markit said that its preliminary manufacturing purchasing managers index rose to a seasonally adjusted 54.1 in October, up from 53.7 in September, whose figure was revised up from 553.6.
Analysts had expected the index to decline to 53.2 in October.
A reading above 50.0 on the index indicates industry expansion, below indicates contraction.
The report also said that service sector activity in the euro zone fell more-than-expected in October. The preliminary services purchasing manager's index declined to a seasonally adjusted 53.2 in October, after falling to 54.1 in September, whose figure was revised up from 53.6.
Analysts had expected the index to decline to 53.8 in October.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.58% to hit 1.4045.
Meanwhile, European stock markets were up. The EURO STOXX 50 gained 0.42%, France’s CAC 40 added 0.52%, the FTSE 100 rose 0.59% and Germany's DAX was up 0.42%.