Area euro - PMI manifatturiero

The IHS Markit Eurozone Manufacturing PMI dropped to 45.9 in December 2019 from 46.9 in the previous month, well below market expectations of 47.3, a preliminary estimate showed. Output contracted by the most since October 2012 and employment fell at the fastest pace for more than seven years. Also, new orders declined for a fifteenth successive month and the rate of backlog depletion quickened. On the price front, input prices continued to fall sharply while output charges dropped modestly.

The IHS Markit Eurozone Manufacturing PMI was revised higher to 46.9 in November of 2019 from a preliminary of 46.6 and 45.9 in October. The reading pointed to the 10th straight month of contraction in factory activity, but at the slowest rate in three months. Output, new orders, export orders and employment continued to shrink. Also, input prices fell sharply, mainly due to lower cost of metals and plastics and output charges were also cut at the sharpest pace since April of 2016. On the other hand, business confidence was the highest in five months as all nations covered by the survey indicated some optimism that output would be higher than present levels in 12 months’ time, albeit to varying degrees. Of the eight countries covered by the survey, manufacturing grew only in Greece and France. Germany remained at the bottom of the table followed by Austria and Spain while Italy registered its lowest PMI print in eight months.

The IHS Markit Eurozone Manufacturing PMI rose to 46.6 in November 2019 from 45.9 in the previous month and above market expectations of 46.4, a preliminary estimate showed. The latest reading pointed to the tenth consecutive contraction in factory activity, as output shrank albeit at a slower pace for the second straight month still remaining one of the steepest since early-2013. New orders dropped at the softer pace for five months, though the rate of decline remained sharp, mainly due to a fall in exports. The job creation rate fell for the seventh consecutive month, representing the worst period for manufacturing jobs since 2013. On the price front, input and output costs went down further and at the steepest rate since April 2016. Lastly, sentiment improved reaching a five-month high.

The IHS Markit Eurozone Manufacturing PMI was revised higher to 45.9 in October 2019 from a preliminary estimate of 45.7. Still, it was little-changed from September's seven-year low as new orders continued to contract at a sharp rate and export orders fell to a considerable degree, again led by sharp reductions in Austria and Germany. Output and purchasing activity also declined and employment shrank by the most since the start of 2013. Input inventories were lowered to the greatest degree since March 2013, whilst finished goods inventories deteriorated to the greatest degree for over three years. On the price front, input costs fell the most since March 2016. Looking ahead, business confidence remained historically low.

The IHS Markit Eurozone Manufacturing PMI was at 45.7 in October 2019, unchanged from the previous month and missing market forecast of 46, a preliminary estimate showed. Output dropped for a ninth straight month, still the rate of decline was marginally weaker than in September, indicate that the goods-producing sector remained in its deepest downturn since 2012, as new orders and exports continued to shrink. Also, employment fell to the sharpest pace since the start of 2013.

The IHS Markit Eurozone Manufacturing PMI fell to 45.7 in September of 2019 from 47.0 in the previous month and above preliminary estimates of 45.6, final figures showed. Still, the latest reading pointed to the steepest contraction in the manufacturing sector October 2012, as output, new orders and purchasing all fall sharply during September. Also, jobs were cut for the fifth consecutive month and at the sharpest rate since April 2013. On the price front, input costs decline at joint-sharpest rate since April 2016. Finally, confidence about the future was little-changed since August, when sentiment was at its lowest level since November 2012.