- Markit
Manufacturing in the 19-nation Euro zone continued to be in expansion territory in September, but growth slowed from previous months, adding to worries about the ability of the sector to generate more jobs and higher inflation. According to Markit survey, the final PMI measure for the Euro zone posted a 52 points in the reported month, slightly below August's reading of 52.3. The final gauge was in line with market expectations. The recent industry reports from the Euroland shows that despite unprecedented ECB stimulus and substantial currency depreciation, the manufacturing sector is failing to achieve significant growth momentum.
As for manufacturing sectors in the Euro area's biggest economies, all countries but France saw its pace of growth decelerating in September. The latest PMI for Germany fell to 52.3, down from August's reading of 53.3 points, while factory activity gauge in Italy declined to 52.7 points in September from the 53.8 points booked in the preceding month. Meanwhile, the PMI for the Spanish manufacturing sector dropped to 51.7, a 21-month low, slipping from last month's 53.2 points. Unlike these countries, the final manufacturing PMI in France improved in September, as the gauge advanced to 50.6 points, up from last month's figure of 48.3.
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