Manufacturing growth in the euro zone stumbles -PMI – Investing.com Spain

By Jonathan Cable

LONDON (Reuters) – Manufacturing growth in the euro area last month was weaker than that as countries like Germany previously thought and France continued in difficulties, according to a business survey released Monday.

It is likely that these data disappoint the European Central Bank, which is trying to keep inflation at its target approaches, like the fact that factories keep prices in May after upload in April for the first time in eight months.

To restore economic growth and fight deflation, the ECB started buying some 60,000 million euros mainly month public debt in March and the survey suggested that it is at least having some effect.

The final manufacturing Purchase Managers’ Index (PMI) stood at 52.2, down from a preliminary reading 52.3 but above the 52.0 in April. Is the twenty-third month above the 50 mark that separates growth from contraction.

“The growth rate is modest rather than spectacular, though some countries are still in trouble,” said Chris Williamson, chief economist at Markit.

“The weakness is concentrated in the center of the region, with manufacturing declining France and Germany only meager growth”.

The PMI manufacturing in Germany and France were 51.1 and 49.4, respectively.

However, new business around the block is created at the fastest pace in over a year, driven by demand exports as consumers took advantage of the weakness of the euro made the manufacture of articles out cheaper. The new orders sub-index jumped to a 13-month high of 52.7 from 51.8.

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