The purchasing managers' index in the euro countries rose to the highest level in a year and a half. The index, a thermometer of the economy, rose to 52.2 in October, up from 51.2 in September, which was also stronger than what economists had expected.
Above all, a boost for the German economy, Europe's largest, driven by large investments in infrastructure and defense, contributed. The combined index for both industry and service sector rose unexpectedly, to 53.8, from 52.0 in September, the highest level since May 2023.
However, the French economic development is still going unevenly.
An index above 50 is considered to indicate growth in the economy.
