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Eurozone manufacturing PMI decelerates in August

by ChemOrbis Editorial Team -
  • 01/09/2016 (15:13)
According to a final purchasing managers’ index (PMI) compiled by Markit Economics, manufacturing activities in the Eurozone fell to a three month low in August with slow performances from France and Italy, according to a business survey. Manufacturing activities in the Eurozone missed the initial estimate of 51.8 and fell to a reading of 51.7 in August from July’s reading of 52. Any reading above 50 represents an expansion while any reading below 50 indicates a contraction.

Markit reported that expansion in production, new orders and new export business decelerated and this caused weaker job creation. Markit also reported that Eurozone manufacturers reported unsteady performance during the month of August which could indicate that growth could face some additional slowdowns in the upcoming months.

Across the region, Germany’s manufacturing PMI recorded a slight decrease and stood at 53.6 in August, after July’s 53.8. Despite the fact Germany’s index fell for a second month in a row, it is still performing well since it is above the average of 51.9. Meanwhile, Italy’s PMI reached a twenty month low at 49.8 while the French PMI is at 48.3, below both expectations of 48.5 and July’s 48.6.
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