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2 Mar 2015
Eurozone manufacturing activity sees modest expansion in February
FXStreet (Mumbai) - The final seasonally adjusted Eurozone Manufacturing PMI was unchanged from January’s six-month high of 51.00 and below the earlier flash estimate of 51.1.
The rate of increase in total new business remained only moderate, as subdued domestic market conditions offset accelerated growth in new export orders. Manufacturing employment edged higher for the sixth straight month in February, while the price pressures remained on the downside. Average selling prices decreased for the sixth straight month, mainly due to lower costs, subdued market conditions and rising competition.
As per Chris Williamson, Chief Economist at Markit, “The Eurozone manufacturing sector barely expanded in February, highlighting the malaise that still hangs over the region’s goods-producing economy as a whole. However, beneath the disappointing headline figure, different parts of the manufacturing economy are clearly moving at very different speeds, ranging from a Celtic boom to a Gallic slump.”
The rate of increase in total new business remained only moderate, as subdued domestic market conditions offset accelerated growth in new export orders. Manufacturing employment edged higher for the sixth straight month in February, while the price pressures remained on the downside. Average selling prices decreased for the sixth straight month, mainly due to lower costs, subdued market conditions and rising competition.
As per Chris Williamson, Chief Economist at Markit, “The Eurozone manufacturing sector barely expanded in February, highlighting the malaise that still hangs over the region’s goods-producing economy as a whole. However, beneath the disappointing headline figure, different parts of the manufacturing economy are clearly moving at very different speeds, ranging from a Celtic boom to a Gallic slump.”