Market Updates: Eurozone Releases a Series of Manufacturing PMI
Spanish Manufacturing PMI – Spain’s manufacturing sector continued to expand during April, and at a faster rate, as both production and new orders registered stronger gains compared to March. The PMI figure jumped to 51.8 vs. 51.2 forecasts, extending support to the single currency Euro.
Italian Manufacturing PMI – The downturn in the Italian manufacturing sector continued in April as firms recorded a ninth consecutive decline in both output and new orders. The Italian PMI fell to 49.1 and although it’s below the standard rate of 50, it’s better than 47.8 – the economists’ forecast. That said, the price of deterioration in operating conditions softened to the weakest in four months.
French Final Manufacturing PMI – Following a slight deterioration in March, business conditions in the French manufacturing sector stabilized at the start of the second quarter. The actual figures surged to 50.0 vs. the forecast of 49.6. So far so good.
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