English | دری

Eurozone manufacturing output showed slight upturn

in International Business

Eurozone manufacturing output showed slight upturn

Eurozone’s Purchasing Manager’s Index (PMI) went up from 45.1 in August to 46.1 in the month.

The manufacturing output has eased, yet a figure below 50 indicates contraction.

France reported a PMI of 42.7, one of its sharpest falls in history.

The Eurozone’s manufacture sector has shrunk for 14 consecutive months.

Manufacturers across the eurozone reported weaker demand in domestic markets, while export orders also fell.

More jobs were lost in the sector for the eighth month in a row, while input costs rose for the first time in four months.

“Despite seeing some easing in the rate of decline last month, manufacturers across the euro area suffered the worst quarter for three years in the three months to September,” said Markit’s chief economist Chris Williamson.

“The survey is consistent with manufacturing output falling at a quarterly rate of perhaps as much as 1%, which means the sector will act as a severe drag on economic growth.”

Related Articles

World Bank faces rivalry from newly launched AAIB

China has once again shown its economic strength and solidifies its global status by launching the Asian Infrastructure Investment Bank

Smartphones boost Samsung profits

Samsung profits are to surge 79% in the second quarter as sales of its smartphones continue to grow, with Galaxy

Yahoo shares climb 5% on Alibaba stake sale report

Shares in internet giant Yahoo have risen over 5% after reports that it is close to selling its stake in

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*