Eurozone Manufacturing PMI
Manufacturing Offered a Glimpse of Hope Last Month
Starts Monday, September 23, 2019 at 09:00
Updated Monday, September 23, 2019
The growth in the manufacturing production has been stopped 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 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, but 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, last month's report showed an increase to 47.0 points in August from 46.5 in the previous reading. This is a good sign, but let's see if manufacturing will improve again this month. 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.