Eurozone manufacturing PMI at 14-month high in June
Across the region, Germany’s manufacturing PMI improved in June to a reading of 51.9 from a reading of 51.1 in the previous month owing to stronger new orders and higher production in factories. France’s manufacturing PMI, meanwhile, rose for the first time since April 2014 in June. France’s PMI rose to a reading of 50.7 from May’s 49.4 to be recorded at an expansion for the first time in 14 months. The final PMI also indicated an increase compared with a preliminary reading of 50.5.
Manufacturing in Italy, on the other hand, slowed in June after hitting its highest since 2011 in May, declining to a reading of 54.1 from 54.8 in May while economists’ initial estimates called for a reading of 54.4 for June, in a survey conducted by Reuters.
In addition, Markit Economics also released a separate report regarding the UK’s manufacturing in June. The country’s manufacturing PMI unexpectedly slowed to a reading of 51.4 in June to post its weakest rate since April 2013 due to subdued export demand especially from Europe. Economists’ initial estimated called for an increase to a reading of 52.5 in a survey by Reuters.
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