Euro-Area Manufacturing Picks Up as German Order Intake Improves

Manufacturing in the euro area unexpectedly accelerated in October as German companies fared better than initially reported, according to Markit Economics.

A Purchasing Managers’ Index for the industry rose to 52.3 from 52.0 in September, exceeding an Oct. 23 estimate for an unchanged reading and a 50 mark that divides expansion from contraction, the London-based company said in a report on Monday. Manufacturing accelerated in Italy, Austria and the Netherlands and grew in all nations covered except Greece.