German Preliminary Manufacturing PMI jumps to 40.7 in October vs. 40.0 expected

• Germany’s Manufacturing PMI rose to 40.7 in October vs. 40.0 anticipated.
• Services PMI for the German economy dropped to 48.0 in October vs. 50.0 expected.
• EUR/USD eases toward 1.0650 after mixed German PMIs.

Germany’s manufacturing sector is seeing an extended upturn in October while the services sector returns to contraction, the preliminary business activity report from the HCOB survey showed on Friday.

The HCOB Manufacturing PMI in the Eurozone’s economic powerhouse came in at 40.7 this month, as against the 40.0 forecast and  September’s 39.6.