Eurozone Manufacturing PMI at 47.4 in June... Up 8 Points from Previous Month
[Asia Economy Reporter Minwoo Lee] The Eurozone (19 countries using the euro) manufacturing Purchasing Managers' Index (PMI) for June has recovered to the level before the full-scale spread of the novel coronavirus infection (COVID-19).
Market research firm IHS Markit announced on the 1st (local time) that the finalized Eurozone manufacturing PMI for June was recorded at 47.4. This is 8 points higher than the finalized figure of 39.4 from the previous month. It even surpassed the 44.5 recorded in March, before COVID-19 had a full impact. Earlier, in April, the Eurozone PMI had plunged to 33.4 within a month due to the effects of COVID-19. This is close to the 47.6 recorded in the same month last year.
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Meanwhile, the PMI is based on 50, with values above indicating economic expansion and below indicating economic contraction.
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