Growth dynamics remain strong across Euro Zone in October

Learned from latest PMI report, growth dynamics remain not only positive but stronger than expected across Euro zone countries in October.

• Spanish headline manufacturing PMI, dropped for fifth consecutive month but detail shows that output and new orders still growing at moderate pace. Moreover, new export businesses expand at fastest pace since June. Job creation may have fallen to weakest in the year but the economy is still creating jobs.
  
  
• Netherland, another key Euro zone country saw its headline PMI move up to 53.7 from 53. Production rose further and job creation growth has hit 53 month high. However new orders rose at slowest pace since June 2014.
  
  
• Manufacturing PMI in Italy rose sharply from 52.7 in September to 54.1 in October. According to PMI report, output growth rebounded at start of the quarter and Employment rose at fastest pace in three months.
  
  
• German headline manufacturing PMI dropped from 52.3 to 52.1 in October as both production and output growth slowed.

Overall Euro zone PMI came at 52.3 in October, better than expected 52.

• Other key regional PMI shows mixed picture. Irish manufacturing PMI came at 53.6, 2 month low, France came at 50.6, unchanged from September, while for Austria it came at 53, 20 month high.
  
  
• Greece manufacturing is still in contraction zone but headline improved to 47.3, 5 month high.

Euro however is in back foot over European Central Bank (ECB) easing expectation. Currently trading at 1.101 against Dollar.