Eurozone PMI rating shows slowest manufacturing growth for two years

The purchasing managers’ index (PMI) for the eurozone manufacturing sector in September showed the slowest growth for two years, with global trade concerns pushing confidence down to nearly a three-year low, data supplier IHS Markit said on Monday October 1.

The final figure for September was 53.2, down from August’s value of 54.6, which was itself a two-year low.
A figure higher than 50 indicates that the manufacturing economy is expanding, while a reading of less than 50 indicates a contraction.
Chris Williamson, chief business economist at IHS Markit, said that the survey had “painted the worst trade picture for more than five years, with export growth having slumped sharply from a series record high in late 2017 to near-stagnation in September [2018].”

Growth was the weakest since September 2016,...

Published

Carrie Bone

October 04, 2018

16:48 GMT

London