France’s Deepening Economic Decline in Manufacturing and Renewed Reduction in Services

The French economy has flipped int a tailspin after four consecutive monthly expansions according to the latest PMI data for June. Headline HCOB Flash France Composite PMI Output Index slipped from 51.2 to 47.3 to signal the fastest rate of decline since February 2021. Service sector activity showed renewed weakness in June as it also fell into contractionary territory. With ongoing aggressive ECB rate hikes 2023 faces further downside across these metrics that still are not reflecting a fraction of … Continue reading “France’s Deepening Economic Decline in Manufacturing and Renewed Reduction in Services”

European Manufacturing Production Rose First Time Since May 2022

European countries manufacturing PMIs in February remained in contraction (actual 48.5; prior 48.8) S&P Global flash indices show. Manufacturing production increased for the first time since May 2022, though fractionally. We continue to see mostly milder contractions but ongoing contractions, nonetheless. On a separate note, the European Central Bank began reducing holdings in its Asset Purchase Program portfolio today. With ongoing aggressive ECB rate hikes 2023 faces further downside across these metrics that still are not reflecting a fraction of … Continue reading “European Manufacturing Production Rose First Time Since May 2022”

UK PMI Shows Inflation Pressures at 16 Month Low but Uncertainty Hinders Employment

The UK manufacturing and service sectors contracted for a fifth month in December S&P Global flash PMI indices show. We continue to see mostly milder contractions but ongoing contractions, nonetheless. British companies cut staff for the first time since the COVID lockdowns of early-2021 with excess operating capacity developing relative to order book growth. Supplier delivery delays indicated the imbalance of supply and demand seen during the height of the COVID-19 crisis is now reversing. This shift saw Inflationary pressures … Continue reading “UK PMI Shows Inflation Pressures at 16 Month Low but Uncertainty Hinders Employment”

European PMI Shows Manufacturing and Services Improvement but Still in Contraction

European countries manufacturing and service sectors PMIs in December saw mostly improvements but nothing exciting S&P Global flash indices show. We continue to see mostly milder contractions but ongoing contractions, nonetheless. With ongoing aggressive ECB rate hikes 2023 faces further downside across these metrics that still are not reflecting a fraction of the lagging impact of tightened monetary policy. The S&P Global Eurozone Composite flash PMI® rose by one full point to 48.8 (47.9 consensus). Both the services (49.1, 48.5 … Continue reading “European PMI Shows Manufacturing and Services Improvement but Still in Contraction”

France Manufacturing and Services PMI Shows Deepening Downturn

The French flash French composite PMI slipped from 48.7 to 48.0 to signal a second consecutive monthly drop in output and the largest decline since November 2014 if the pandemic is excluded. France saw the steepest fall in its service sector activity for 22 months. There was a softening of the manufacturing downturn at the same time. With ongoing aggressive ECB rate hikes 2023 faces further downside across these metrics that still are not reflecting a fraction of the lagging … Continue reading “France Manufacturing and Services PMI Shows Deepening Downturn”

Eurozone Services, Manufacturing and Energy intensive Sectors Accelerate Lower in October

The Eurozone economy is falling the fastest since April 2013 barring pandemic lockdowns in October according to the latest S&P Global PMI™ data. Germany suffered the steepest economic contraction while growth in France merely stalled. Despite supply shortages showing further signs of easing, inflationary pressures remained elevated amid high energy costs and upward wage pressures. Manufacturing, and energy intensive sectors reported the steepest output loss. Services activity also continued to fall at an accelerating rate. Europe and UK Manufacturing PMI October … Continue reading “Eurozone Services, Manufacturing and Energy intensive Sectors Accelerate Lower in October”

European Economic Downturn Deepened in September Amidst Growing Gloom

European flash Manufacturing and Services PMI readings for September for the eurozone weakened while the U.K.’s Manufacturing PMI improved slightly but remained in contractionary territory according to the latest S&P Global PMI™ data. The eurozone saw output decline again. Soaring energy prices added further to companies’ cost burdens, and also limited production in some cases, pushing survey price gauges higher to indicate a renewed acceleration of inflationary pressures. Europe and UK Manufacturing PMI September 2022  Eurozone’s flash September Manufacturing PMI 48.5 … Continue reading “European Economic Downturn Deepened in September Amidst Growing Gloom”

Germany Manufacturing PMI Contraction Deepens as Future Expectations Sank

The latest S&P Global PMI™ for July showed the first contraction of activity in the Germany economy, in 2022 and the worst performance for over two years. Germany’s PMI Composite Output Index registered 48.0, down from 51.3 and a 25-month low. Declines in both domestic and export demanda combination of an uncertain business environment, supply shortages and stretched client budgets.Expectations about the future sank into negative territory for the first time since the full-blown pandemic in May 2020. The euro … Continue reading “Germany Manufacturing PMI Contraction Deepens as Future Expectations Sank”

European Manufacturing PMI in Contraction as it Declines for Sixth Consecutive Month in July

European countries manufacturing sector fell into contraction for July according to the latest S&P Global PMI™ data with missing expectations. The eurozone saw output decline again. The euro area and the UK were some of the larger manufacturing economies to see new business decline. Business optimism in most areas dipped to a two-year low, inflationary pressure remained elevated and supply chains also stayed stretched. The S&P Global Eurozone Manufacturing flash PMI® fell to 49.6 (expected 51.0; last 52.1) 25-month low. and … Continue reading “European Manufacturing PMI in Contraction as it Declines for Sixth Consecutive Month in July”

European Manufacturing PMI Declines For Fifth Consecutive Month in June

European countries manufacturing sector remains in expansion for June according to the latest S&P Global PMI™ data with most beating expectations. The eurozone saw output decline, however. The euro area and the UK were some of the larger manufacturing economies to see new business decline. Business optimism in most areas dipped to a two-year low, inflationary pressure remained elevated and supply chains also stayed stretched. The S&P Global Eurozone Manufacturing PMI® fell from 54.6 in May to 52.1 in June, its … Continue reading “European Manufacturing PMI Declines For Fifth Consecutive Month in June”