Thu, Dec 08, 2022 @ 06:49 GMT
HomeLive CommentsEurozone PMI manufacturing finalized at 48.4, ugly combination of recession and inflation

Eurozone PMI manufacturing finalized at 48.4, ugly combination of recession and inflation

Eurozone PMI Manufacturing was finalized at 48.4 in September, down from August’s 49.6. That’s also a 27-month low. Looking at some member states, France PMI Manufacturing was finalized at 47.7, a 28-month low. Germany was finalized at 47.8, a 27-month low. Greece (49.7), the Netherlands (49.0), Spain (49.0), Austria (48.8) and Italy (48.3) were all in contraction, while Ireland (51.5) was in expansion.

Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said: “The ugly combination of a manufacturing sector in recession and rising inflationary pressures will add further to concerns about the outlook for the eurozone economy… Excluding the initial pandemic lockdowns, eurozone manufacturers have not seen a collapse of demand and production on this scale since the height of the global financial crisis in early-2009.

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