Manufacturing PMI in Germany falls unexpectedly

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Source: Forexpros
© Scanpix/Reuters
Markit, a market research group, reported on Wednesday that German manufacturing PMI declined unexpectedly in October. Manufacturing purchasing managers' index declined to a reading 45.7, compared to a figure of 47.4 in the previous month. Economists, however, expected that the index would be equal to 48.0.

"Within the manufacturing industry, particular weakness was found in the automobiles sector amid softer exports to southern Europe. Signs of a slowdown at automobiles producers in turn contributed to weaker orders for suppliers of intermediate goods to the sector. At the same time, relatively subdued investment spending in Asia was reported to have weighed on capital goods exports," said Tim Moore, Senior Economist at Markit.
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Wed, 24 Oct 2012 14:47:42 GMT

Manufacturing PMI in Eurozone declined in October

Markit, a market research group, reported on Wednesday that Eurozone's manufacturing activity fell faster than expected this month, extending a 14-month long streak of losses. Markit manufacturing PMI declined to a reading of 45.3 in October, compared to a figure of 46.1 last month. Economists, however, expected that the index would be equal to 46.6.

Wed, 24 Oct 2012 18:49:47 GMT

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