Prior 45.7Both the headline reading and the output index are at 14-month highs, signaling a softer contraction in the euro area manufacturing sector. Business confidence picked up while the downturn in new orders, exports, and purchasing activity all softened on the month. HCOB notes that:“This could be the turning point for the manufacturing sector. The industry is on the verge of halting the production decline that has persisted since April 2023. This is largely supported by more favourable trends in intermediate and capital goods. Additionally, more companies are reporting positive developments in order intakes from both domestic and international markets, although this is still being off
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