The growth in Eurozone's manufacturing sector contracted in October, with the region's economy slipping into a "steeper downturn at the start of the fourth quarter". The Eurozone Manufacturing Purchasing Managers Index stood at 46.6, hitting a 29-month low.

The Eurozone Manufacturing Output Index plunged to 44.2, a nearly two-and-a-half-year low, declining for the fifth consecutive month, with the contraction primarily attributed to supply shortages, weaker demand, and energy concerns.