Eurozone Manufacturing PMI
Manufacturing Activity Expected to Improve A Bit, but Still Remain in Contraction
Starts Friday, June 21, 2019 at 08:00
Updated Monday, June 17, 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. In the last two months manufacturing has softened further, although in France and Spain we saw an improvement in April, but Germany has the biggest impact and manufacturing there is still pretty weak. The Eurozone manufacturing is expected to improve slightly form 47.7 points in May to 48.0 points this month. Although, we will have an indication of the Eurozone number in advance since the French and German manufacturing reports will be released during the previous hour and they are expected to improve slightly as well. 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.