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Financial News: Eurozone Manufacturing Expands At Slowest Pace In 2

Eurozone Manufacturing Expands At Slowest Pace In 2 Years

10/01/2018 - 04:14:00 (RTTNews)

(RTTNews) - Eurozone manufacturing activity grew at the weakest pace in two years in September, final data from IHS Markit showed Monday.

The factory Purchasing Managers' Index fell to 53.2, the lowest since September 2016, from 54.6 in August. The initial estimate was 53.3. Nonetheless, the sector expanded the current period of expansion to 63 months.

Germany remained the best-performing among big-four nations, but growth here slid to its lowest in over two years. France saw a solid expansion, but the weakest in three months.

The survey showed that growth of Germany's manufacturing sector slowed in September, subdued by the steepest drop in new export orders in over five years.

The factory PMI came in at a 25-month low of 53.7 in September, in line with preliminary estimate, but down from 55.9 in the previous month.

French manufacturers experienced a renewed slowdown in output growth, as initially estimated, in September. The factory PMI fell to 52.5 in September from 53.5 in August. The score matched flash estimate.

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