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Eurozone Manufacturing Falls to an 18-Month Low in May on Rising Cost Pressures

June 1, 2022 by Forex Winner Leave a Comment

Eurozone Manufacturing Falls to an 18-Month Low in May on Rising Cost Pressures

Source: IHS Markit

The PMI gauging the manufacturing activity in the eurozone hit an eighteen-month low of 54.6 in May, from 55.5 in April. DAX is up +0.33%, EURUSD is down -0.17%.

S&P Global Eurozone Manufacturing PMI
  • Output expansion in the eurozone still rose to a two-month high in May, with the index at 51.3, compared to 50.7 in April. The output was still the second-weakest in 23 months of expansion. 
  • The Netherlands was the strongest growing country, although activity was at an 18-month low in May. Germany and Spain were the only countries to post stronger improvements.
  • Eurozone manufacturers accumulated stock purchases at the quickest rate in three months in May. The rate of purchasing activity was unchanged from the 17-month low of April.
  • Supply disruptions weakened, with the delivery times increasing at the second-weakest pace since the start of 2021.
  • Inflationary pressures persisted across the eurozone, although both input costs and selling charges eased slightly. Output price inflation was the second-strongest on record after the April highs. 
  • Firms remained less upbeat on concerns about inflation, supply chain bottlenecks, and demand. The level of businesses’ positive sentiment was among the weakest in more than two years.

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