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Eurozone manufacturing PMI falls 6-month low in May

English.news.cn   2014-06-03 07:22:28

LONDON, June 2 (Xinhua) -- Eurozone manufacturing purchasing managers' index (PMI) down to 52.2 in May from the flash estimate of 52.5, marking a 6-month low, reported by Markit Monday.

The index is also lower than 53.4 in April, indicating a slowdown in the recovery of eurozone manufacturers.

The easing signalled by the headline PMI reflected slower rates of expansion in production, new orders and employment, said the London-based survey compiler. Companies also reported a sharper cut in inventories of purchased goods.

Data showed that the core countries of eurozone did not behave well in May.

Germany, Eurozone's largest economy saw its manufacturing sector expand at its lowest rate in seven months in May as the country's PMI fell to 52.3 in May from 54.1 in April.

Factory activity in France slipped, with the region's second-largest economy the only one of the seven economies covered by the poll where the PMI fell below 50, said Markit.

"The main disappointments in the May surveys were in fact found in the 'core', and France in particular is one boat which is not being lifted by the rising tide. France has slid back into contraction, suggesting much more needs to be done to address the competitiveness of the country's goods producers," said Chris Williamson, the Chief Economist at Markit.

"In Germany, the pace of expansion eased, possibly linked to some concerns over the situation in Ukraine, or perhaps simply due to the timing of Easter. Without any clear cause, the slowdown in the region's largest economy will perhaps be the biggest concern for the eurozone's growth trajectory if a rebound is not forthcoming in June," he said.

Editor: Yang Yi
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