Eurozone Manufacturing PMI
Manufacturing Revised Higher but Still in Contraction
Starts Friday, March 22, 2019 at 09:00
Updated Friday, March 22, 2019
The growth in the manufacturing production has been slowing in the Eurozone in the last 7-8 months. Flash manufacturing PMI report used to be at 55 PMI points in summer, but it has declined close to contraction at the end of last year and in February it fell into contraction ans the PMI indicator fell below the 50 level. Last month's number was revised a tick higher from 49.2 points to 49.3. This month we're expecting to see another increase to 49.6 points, but that would still mean contraction for this sector. Please follow us for live coverage of this event by experienced market analysts.
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About Eurozone Manufacturing PMI
Developed by the Markit, the Eurozone Flash Manufacturing PMI provides a look at the conditions facing the European industrial sector. The metric is derived using a 0-100 scale. Basic interpretations include a value over 50 being viewed as positive toward the Euro and under 50 negative.A top major global economic power, the Eurozone relies greatly upon domestic manufacturing for economic output. With industrial production accounting for nearly 20% of aggregate GDP, the manufacture of goods is a big part of the European economy. The Flash Manufacturing PMI offers an inside view of the ongoing progress of the manufacturing sector.