The fall in manufacturing activity in the Eurozone deepened in June

SHAFAQNA Türkiye – S&P Global released the final data for the Eurozone Manufacturing Purchasing Managers’ Index (PMI) for June.

Manufacturing activity in the Eurozone contracted more than expected due to successive tightening by the European Central Bank (ECB) and lower optimism about the UK economic outlook.

According to the announced data, activity in the manufacturing sector of the Eurozone also fell to 43.4 in June. The activity of the manufacturing sector was expected to be announced at 43.6. The index of business activity in the manufacturing sector of the euro area in May fell to 44.8.

In the PMI data above 50 points indicates growth, below 50 points a decline.

On the other hand, factory activity in Asia increased slightly in China, while it declined in Japan and South Korea.

Rory Fennessy, European economist at Oxford Economics, said in a statement on manufacturing data: “There are no real signs of any recovery in the manufacturing sector this year. Overall, we’re still talking about a negative review.” used his words.

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