Global Manufacturing Holds Steady Despite Rising Energy and Supply Costs

Global manufacturing activity remained solid in October, but rising energy costs and supply-chain disruptions are squeezing factory margins as Middle East conflict keeps fuel and food prices high. The eurozone manufacturing PMI edged down to 52.7 from 52.9 but remained above the 50-point growth threshold; input and output prices also rose, adding to pressure on the European Central Bank to raise interest rates. Germany’s manufacturing sector expanded, France’s contracted, and British output grew at its fastest pace in more than two years, though rising costs could weigh on the outlook.