Euro area manufacturing PMIs for July point to deepening recession1 August, 2012, 16:09. Posted by Zarathustra
Tags: Euro Crisis
Euro area manufacturing PMIs figures continue to point to further slowdown for the Eurozone economy.
The overall eurozone manufacturing PMI fell to a 37-month low of 44.0 from 45.1 in June, missing estimate of 44.1. The continued slide of PMI figures point to deepening recession in the euro area.
Greece manufacturing PMI rose slightly to 41.9 from 40.1 in June.
Germany manufacturing PMI fell to a 37-month low of 43.0 from 45.0 in June, missing estimate of 43.3.
France manufacturing PMI fell to a 38-month low of 43.4 from 45.2 in June, missing estimate of 43.6.
Italy manufacturing PMI fell to three-month low of 44.3 from 44.6 in June, better than expected figure of 44.6, but remains deep in the contractionary territory.
Spain manufacturing PMI increased slightly in July from 41.1 to 42.3 in June, better than expected figure of 40.5.
Ireland, meanwhile, remains to be the bright spot in Europe. Manufacturing PMI increased from 53.1 to 53.9.
Source: Bloomberg Brief