WS #15192
Despite the macro headwinds, Eurozone manufacturing showed unexpected resilience with factory growth accelerating in September, according to PMI data. This suggests that the European industrial base is adapting to higher energy costs and geopolitical risks better than anticipated. However, this positive data is currently being overshadowed by the broader sell-off driven by US bond yields and oil prices.
European Economic Resilience
Despite the macro headwinds, Eurozone manufacturing showed unexpected resilience with factory growth accelerating in September, according to PMI data. This suggests that the European industrial base is adapting to higher energy costs and geopolitical risks better than anticipated. However, this positive data is currently being overshadowed by the broader sell-off driven by US bond yields and oil prices.