Economy
Markit Eurozone Manufacturing PMI Drops to 3-Month Low
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At about the same time that the Organization for Economic Cooperation and Development (OECD) released its pessimist Economic Forecast, research firm Markit reported trouble in Europe. Its eurozone manufacturing PMI hit a three-month low.
May PMI data signalled a further growth slowdown in the eurozone manufacturing sector, as inflows of new business from both domestic and export markets continued to rise at lacklustre rates.
The final Markit Eurozone Manufacturing PMI® posted a three-month low of 51.5 in May, unchanged from the earlier flash estimate and the second-weakest reading since February 2015.
Six out of the eight nations included in the eurozone manufacturing survey reported expansions during May. The Netherlands, in first position of the PMI growth rankings, and third-placed Germany were the only countries to report faster rates of growth.
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