Chinese PMI Rises to 7 Month High; Euro-Area PMI Holds Steady

china manU.S. stock futures are higher for Thursday and European stocks are rallying in early trading after positive data came forward on Thursday about the manufacturing sectors in China and Europe.

Latest data released today out of China shows that October’s Markit/HSBC’s Purchasing Managers’ Index (PMI) registered at  50.9 in October, higher than September’s final reading of 50.2, signaling a seven month high.

New orders jumped to 51.6, another seven month high, and safely above 50, the designated line that marks from expansion from contraction.

Europe

In the Euro-area the composite purchasing managers’ index (PMI) dropped slightly in October to 51.5, coming down from the 27- month high registered in September at 52.2 while manufacturing PMI rose to 51.3 from 51.1 in September, signaling a two month high.

France’s composite PMI lowered to 50.1 in October from 50.5 in September while Germany’s composite PMI fell to 52.6 from 53.2 in September.

 

 

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