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'Meagre' eurozone factory growth in May as core countries continue to struggle - Markit


economy

'Meagre' eurozone factory growth in May as core countries continue to struggle - Markit

Eurozone factory growth was weaker than previously thought in May, a survey of businesses by Markit has shown.

Markit published a final May number for the manufacturing Purchasing Manager’s Index (PMI) as 52.2.

That was below Markit’s preliminary reading for May of 52.3, but just ahead of April’s number of 52.0.

The 50 mark separates growth from contraction.

Eurozone PMI has been above 50 for 23 months.

“The rate of growth is modest rather than spectacular, however, and there are clearly countries which continue to struggle,” said Chris Williamson, Markit’s chief economist.

“Weakness is centred in the region’s core, with France’s manufacturing sector still in decline and Germany only seeing very meagre growth.”

Earlier factory PMIs from Germany and France were 51.1 and 49.4 respectively.

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