Eurozone Manufacturing PMI
Manufacturing Might Get Revised Even Lower in the Final Reading
Starts Wednesday, April 1, 2020 at 09:00
Updated Wednesday, April 1, 2020
The growth in Eurozone's manufacturing production has stopped in the last 7-8 months. Flash manufacturing PMI report used to be at 55 points in summer, but it has declined close to contraction at the end of last year and in February, it fell into contraction and 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; however, Germany has the biggest impact and manufacturing there is still pretty weak. The Eurozone flash manufacturing improved slightly from 47.7 points in May to 47.8 points in June, which was revised lower to 47.6 points. Manufacturing activity is back in expansion in France but in Germany it continues to contract, which has been affecting the Eurozone manufacturing numbers negatively. But, in August we saw an increase to 47.0 points from 46.5 in the previous reading. This was a good sign, but manufacturing fell further to 45.6 points in September, which was revised higher to 45.7 points later. In October this indicator moved higher again to 45.9 points and to 46.9 points in November, but in December the first reading came in weaker at 45.9 points, which was revised higher to 46.3 points on the last reading. In January it improved further to 47.9 points and to 49.2 in February, although the first reading for March was pretty bad wand it will likely be revised even lower in the final reading. 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.