Manufacturing activity remained unchanged from the flash estimate and the consensus. The final PMI suggests that the manufacturing industry shows no change versus September. Despite this, the manufacturing output for October is 51.0, up from September's 50.9, suggesting faster output growth.

The best-performing countries were Greece (53.5), Spain (52.1), the Netherlands (51.8), and Ireland (50.9), where growth was at least positive. Italy (49.9), Germany (49.6), Austria (48.8), and France (48.8) all saw contractions.

Factory operations grew for the eighth consecutive month; however, this was less than the long-run average. Higher output levels were recorded in October despite the stagnant new orders and weakened demand. Business optimism about the coming 12 months was lower in October. Prices showed no change following September's decline in both input costs and output charges.

Today's update puts the Eurozone RPI at 49 and the RPI-P at 48. Overall, economic activity in general is moderately outperforming market expectations.

The call is no change from the flash at 50.0 in the PMI manufacturing final, showing no growth in business.

The Manufacturing Purchasing Managers' Index (PMI) provides an estimate of manufacturing business activity for the preceding month by using information obtained from a representative sector survey incorporating around 3,000 companies. Results are synthesised into a single index which can range between zero and 100. A reading above (below) 50 signals rising (falling) activity versus the previous month and the closer to 100 (zero) the faster is activity growing (contracting). Released by S&P Global, national data are included for Germany, France, Italy, Spain, the Netherlands, Austria, the Republic of Ireland and Greece. These countries together account for an estimated 89 percent of Eurozone manufacturing activity.

Investors need to keep their fingers on the pulse of the economy because it dictates how various types of investments will perform. By tracking economic data such as the ISM manufacturing index in the U.S. and the S&P Global PMIs elsewhere, investors will know what the economic backdrop is for the various markets. The stock market likes to see healthy economic growth because that translates to higher corporate profits. The bond market prefers less rapid growth and is extremely sensitive to whether the economy is growing too quickly and causing potential inflationary pressures.

The S&P Global PMI manufacturing data give a detailed look at the manufacturing sector, how busy it is and where things are headed. Since the manufacturing sector is a major source of cyclical variability in the economy, this report has a big influence on the markets. And its sub-indexes provide a picture of orders, output, employment and prices.