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Eurozone's PMI index shrinks the most since 2012

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The IHS Markit Eurozone Manufacturing PMI fell to 45.6 in September 2019 from 47.0 in August and well off the expected figure of 47.3.

The latest reading pointed to the steepest contraction in the manufacturing sector since October 2012 as output fell the most since December 2012.

In addition, new orders declined at the fastest rate since July 2012, due to further steep loss of export sales.

The general consensus regarding the year ahead in manufacturing was the lowest since 2012, hence a further cut of factory jobs which have not been witnessed wince April 2013.

Regarding prices, input costs fell the most since April 2016, leading to one of the largest falls in factory selling prices for three-and-a-half years.

 

Source: Smart Trend Team