Euro area manufacturing remains in contraction for third month

  • by Ahmed Mamdouh
  • May 2, 2019, 12:45 AM
  • 169 Views
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Euro area manufacturing sector remained in contraction for a third straight month in April, the final Purchasing Managers’ Index report showed.

Eurozone factories PMI came in at 47.9 last month, slightly higher than the both flash and prior readings of 47.8 and 47.5 respectively.

In Germany, manufacturing PMI registered 44.4 to remain in contraction, while the same gauge in France left the contraction zone as it scored 50 from a previous of 49.7.


Euroarea-manufacturing-PMI-April.PNG

Data released this week showed that the euro area expanded 0.4 percent in the quarter through March, surpassing analysts’ projections of 0.3 percent growth.

As of 08:40 GMT, the euro traded higher at $1.1212 after retreating on Wednesday from a two-week high of $1.1264.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at Ofeed.com, with 11 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from the American University in Cairo and a Bachelor Degree in Economics from the Faculty of Economics and Political Science, Cairo University.

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