Eurozone Manufacturing Growth Flat
World Economy

Eurozone Manufacturing Growth Flat

The Eurozone’s manufacturing sector showed disappointing growth in February, figures out Monday morning have shown.
Markit’s Eurozone manufacturing Purchasing Managers’ Index (PMI) hit 51 in February. That’s down from the flash estimate of 51.1, and flat on the 51 it hit in January.
Still, at least the region’s manufacturers can take some solace in the fact the sector is still expanding – any number above 50 denotes growth. And the 51 achieved in January was a six-month high for the sector.
Digging down into the figures, Ireland was the success story, hitting a 182-month high of 57.5, while Italy’s manufacturing PMI rose to 51.9, the first time it’s been over 50 in five months.
For France, however, the index fell to 47.6, down from 49.2 in January, while Germany’s manufacturers recorded 50.9 – suggesting that these days it’s hardly the bastion of manufacturing excellence it once was.
Chris Williamson, Markit’s chief economist, pointed to the “malaise” still hanging over the region’s goods-producing economy, but suggested things are likely to improve once the European Central Bank (ECB) launches its quantitative easing program.
Coming months will hopefully see all countries’ manufacturing sectors pick up speed, as business and consumer confidence is buoyed by ECB stimulus. The recent fall in the euro should also provide a noticeable stimulant to export sales.


Short URL : http://goo.gl/LKN3Kr

You can also read ...

The 2017 “WannaCry” cyber attack demanded affected users wire ransom money via Bitcoin.
You don’t have to be a digital whizz kid to know that the wars...
A woman protests a planned coal-fired plant  in southern Thailand.
Southeast Asian governments are finding themselves caught...
South Africa Wants to Increase VAT Rates
With an economic downgrade to junk status, a slowly growing...
Malaysia has shown willingness to move towards  a market-oriented mechanism.
Forty-three World Trade Organization members who participated...
Singapore to Hike GST for First  Time in Decade
Singapore is expected to raise goods and services tax for the...
China’s Commerce Ministry says the proposed US measures are groundless.
China said proposed US tariffs on imported steel and aluminum...
62% of Japan Loan Rate  Below 1%
After two years of the Bank of Japan guiding key interest...
Fitch Upgrades Greece
Fitch Ratings raised Greece’s sovereign credit rating by one...