Eurozone Manufacturing Downturn Continues

RTTNews | 20 дней спустя
Eurozone Manufacturing Downturn Continues

(RTTNews) - The euro area manufacturing downturn continued in October albeit at the slowest pace in five months, survey data published by S&P Global showed on Monday.

The HCOB manufacturing Purchasing Managers' Index increased to 46.0 in October from 45.0 in September. The flash score was 45.9.

The score suggests that the sector posted its slowest fall since May. Nonetheless, factory activity shrank for the twenty-eighth successive month, marking the longest downturn since the survey began in 1997.

"There is one bit of good news in these numbers: the recession in the manufacturing sector did not deepen further in October," Hamburg Commercial Bank Chief Economist Cyrus de la Rubia said.

According to GDP nowcast, which takes into account numerous other indicators in addition to the PMI, industry output could shrink by 0.1 percent in the fourth quarter, de la Rubia added.

The survey showed that factory output continued to fall but the rate of contraction cooled since September. Production lines were once again squeezed by a lack of incoming new work.

Manufacturers reduced their purchasing activity, as they have done in every month since July 2022. Pre-production stocks shrank at a sharp rate amid sustained tapering of input buying.

Employment was reduced further in October. The rate of job shedding held close to September's 49-month record. Manufacturers' growth expectations were at their weakest in a year.

Costs faced by manufacturing companies declined in October. The reduction in input prices was the fastest since March. Manufacturers discounted the charges of goods leaving the factory gate to the greatest extent in six months.

Further, the survey showed that confidence among manufacturers declined to a one-year low in October.

The overall eurozone manufacturing sector was weighed down heavily by Germany and France.

Germany's manufacturing sector remained firmly in the contraction zone. The headline HCOB manufacturing PMI hit 43.0 in October, up from September's 12-month low of 40.6 in the previous month. This was the highest since July and also above the flash reading of 42.6.

France's manufacturing activity also continued on accelerated declines in new orders and production. The HCOB final factory PMI posted 44.5, in line with flash estimate, and slightly down from 44.6 in September.

Italy's manufacturing sector contracted more sharply in October. The HCOB factory PMI slid to 46.9 from 48.3 in the previous month. There were declines in new orders and output with a substantial fall in the international sales environment. On the other hand, Spain's factory sector expanded at the fastest pace in over two-an-a-half years in October, driven by significant growth in output and new orders amid an improvement in market demand. The index rose to 54.5 from 53.0 in September.

Тэгов: EUR
read more
Eurozone Private Sector Falls Back Into Contraction

Eurozone Private Sector Falls Back Into Contraction

The euro area private sector fell back into the negative territory in November as services activity shrank for the first time in ten months, joining manufacturing in contraction zone, survey results from S&P Global revealed Friday. The composite output index registered 48.1 in November, which was the lowest since January, and down from 50.0 in October.
RTTNews | 2 дней спустя
German Private Sector Continues To Shrink

German Private Sector Continues To Shrink

Germany's private sector continued to contract in November as sustained weakness in manufacturing output was compounded by the first fall in services activity for nine months, flash Purchasing Managers' survey compiled by S&P Global showed Friday. The HCOB composite output index dropped to 47.3 in November from 48.6 in the previous month. The score signaled acceleration in the rate of decline in
RTTNews | 2 дней спустя
France Private Sector Falls Deep Into Contraction

France Private Sector Falls Deep Into Contraction

France's private sector contracted the most since January as prolonged weakness in demand damped expectations, flash survey results from S&P Global showed on Friday. The flash HCOB composite output index fell markedly to 44.8 in November from 48.1 in October. This was the third monthly fall in private sector output and the score signalled the steepest contraction since January.
RTTNews | 2 дней спустя
Germany Narrowly Skirts Recession In Q3

Germany Narrowly Skirts Recession In Q3

The German economy grew marginally in the third quarter after a contraction, preventing a technical recession, official data revealed Friday. Gross domestic product posted a sequential growth of 0.1 percent in the third quarter, revised data from Destatis showed. The rate was downgraded from 0.2 percent estimated on October 30.
RTTNews | 3 дней спустя
Eurozone Consumer Confidence Sinks To Lowest In 5 Months

Eurozone Consumer Confidence Sinks To Lowest In 5 Months

Consumer sentiment in the euro area deteriorated more than expected to its lowest level in five months in November, preliminary results of a survey by the European Commission showed on Thursday. The flash consumer confidence index for Eurozone fell to -13.7 from -12.5 in October. Economists were looking for a score of -13.0.
RTTNews | 3 дней спустя
Eurozone Inflation Rises To 2% As Estimated

Eurozone Inflation Rises To 2% As Estimated

Eurozone inflation returned to the 2 percent target in October, final data from Eurostat showed on Tuesday. The harmonized index of consumer prices climbed as initially estimated in October after rising 1.7 percent in September. Core inflation that excludes prices of energy, food, alcohol and tobacco, remained unchanged at 2.7 percent in October.
RTTNews | 5 дней спустя
Eurozone Trade Surplus Increases In September

Eurozone Trade Surplus Increases In September

The euro area trade surplus increased notably in September as exports to the United States surged ahead of the presidential election in November that saw Donald Trump winning the race. The trade surplus rose to EUR 12.5 billion in September from EUR 9.8 billion in the same period last year, data from Eurostat showed Monday.
RTTNews | 6 дней спустя
EU Forecasts Eurozone Growth To Pick Up Despite Heightened Uncertainty

EU Forecasts Eurozone Growth To Pick Up Despite Heightened Uncertainty

The Eurozone economic growth is projected to pick up next year with acceleration of domestic demand despite risks to global trade from protectionist measures. In the Autumn Forecast, the European Commission retained the economic growth outlook for 2024 at 0.8 percent. The currency bloc continued to grow at a subdued pace through the second and third quarters amid easing inflationary pressures.
RTTNews | 9 дней спустя