Eurozone July Manufacturing PMI 62.8... Exceeds Expectations

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[Asia Economy Reporter Kim Bo-kyung] The Eurozone (19 countries using the euro) manufacturing Purchasing Managers' Index (PMI) for July stood at 62.8.

According to global market research firm IHS Markit on the 2nd, the final manufacturing PMI for the Eurozone in July was 62.8, slightly exceeding the market expectation of 62.6.

Compared to the previous month (63.4), which recorded the highest level since data collection began in 1997, it showed a slight decline.

The PMI is based on 50; a figure above 50 indicates economic expansion, while below 50 indicates contraction.

All three manufacturing sectors?consumer goods, intermediate goods, and investment goods?showed growth, with investment goods exhibiting the largest increase.

By country, the Netherlands, Germany, and Austria showed significant PMI increases. The figures for these countries reached 67.4, 65.9, and 63.9, respectively.

Chris Williamson, Chief Economist at IHS Markit, said, "Although the demand growth due to economic reopening has somewhat slowed, in July, new order inflows unprecedented in the 24-year survey history outpaced production."

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