In April, the persistent downturn in euro zone manufacturing activity intensified due to weakening demand, despite factories slashing prices. This compelled businesses to further trim their workforce, according to a survey released on Thursday.<\/p>\n\n\n\n
The final euro zone Manufacturing Purchasing Managers’ Index (PMI) by HCOB, compiled by S&P Global, dropped to 45.7 in April from March’s 46.1, remaining below the growth threshold of 50 for the 22nd consecutive month. However, it marginally exceeded the preliminary estimate of 45.6.<\/p>\n\n\n\n
The index measuring output, which influences a composite PMI scheduled for Monday and is considered a reliable indicator of economic well-being, inched up from 47.1 in March to 47.3, aligning with the flash estimate.<\/p>\n\n\n\n
Despite the bloc’s economy showing signs of recovery in the last quarter, expanding by 0.3% quarter-on-quarter in January-March, as indicated by official data on Tuesday, the manufacturing sector appears to be grappling with persistent challenges.<\/p>\n\n\n\n
The new orders index, which has remained below 50 since May 2022, dropped to a four-month low of 44.1 from 46.0, indicating no immediate turnaround for manufacturers.<\/p>\n\n\n\n
Furthermore, factories depleted their inventories of both purchased and final goods while reducing their workforce for the eleventh consecutive month.<\/p>\n\n\n\n
Despite manufacturers reducing prices again, contributing to the European Central Bank’s widely expected move to lower borrowing costs in June as inflation eases, the sector’s woes persist.<\/p>\n\n\n\n
Euro zone inflation remained steady at 2.4% in April, as predicted, but a key indicator of underlying price pressures slowed, according to data released on Tuesday.<\/p>\n","protected":false},"excerpt":{"rendered":"
In April, the persistent downturn in euro zone manufacturing activity intensified due to weakening demand, despite factories slashing prices. This compelled businesses to further trim their workforce, according to a survey released on Thursday. The final euro zone Manufacturing Purchasing Managers’ Index (PMI) by HCOB, compiled by S&P Global, dropped to 45.7 in April from …<\/p>\n","protected":false},"author":9,"featured_media":44251,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7211,6877,6928,6837,6882,7696],"class_list":["post-100775","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-currencies","tag-dollar","tag-euro","tag-eurozone","tag-forex","tag-german-economy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/100775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=100775"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/100775\/revisions"}],"predecessor-version":[{"id":100776,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/100775\/revisions\/100776"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/44251"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=100775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=100775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=100775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}