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Eurozone manufacturing PMI misses expectations in August

by ChemOrbis Editorial Team -
  • 01/09/2015 (17:10)
Manufacturing activities in the eurozone slowed in August, missing economists’ initial estimates, according to a final purchasing managers’ index (PMI) compiled by Markit Economics. Markit’s PMI declined to a reading of 52.3 in August from the company’s flash estimate of 52.4. Any reading above 50 indicates an expansion while any figure below 50 represents a contraction.

Across the region, Germany’s manufacturing PMI improved in August to a reading of 53.3 from an initial reading of 53.2, posting the highest reading seen in 16 months. However, manufacturing activities in France and Italy declined more than expected in August due to a reduced number of new orders. France’s manufacturing PMI slipped to a reading of 48.3, falling below an initial estimate of 48.6 and well below July’s reading of 49.6. The August PMI also showed the third monthly decrease in a row. Italy’s PMI, meanwhile, fell to a reading of 53.8 in August, declining from 51 month high reading of 55.3 in July.

In addition, Markit Economics also released a separate report regarding the UK’s manufacturing in August. The country’s manufacturing PMI slowed slightly to a reading of 51.5 in August from its July reading of 51.9 given weak foreign orders and the stronger sterling against the euro.
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