FX.co ★ Eurozone Factory Growth Cools Slightly as HCOB Manufacturing PMI Eases in October

The euro area’s manufacturing expansion lost a little momentum in October, as the HCOB Eurozone Manufacturing Purchasing Managers’ Index (PMI) edged down to 52.4 from 52.9 in September 2026.

Despite the dip, the October reading remains above the 50-point threshold that separates expansion from contraction, indicating that factory activity across the currency bloc is still growing, albeit at a slightly slower pace than a month earlier. The latest data, updated on 23 October 2026, suggest that the sector’s recovery is intact but may be facing headwinds that are tempering the pace of improvement.

Investors and policymakers will be watching upcoming PMI releases closely for signs of whether this softening is temporary or the start of a broader cooling in eurozone manufacturing momentum heading into the final months of 2026.