Eurozone Manufacturing Dips in February

Manufacturing growth in the eurozone slowed for the first time in five months in February, a closely-watched survey has suggested.

The latest Markit’s Eurozone Manufacturing Purchasing Managers’ Index (PMI) dipped to 53.2 from 54.0 in January. A figure above 50 indicates expansion.

However, for the first time in almost three years output rose in the bloc’s four biggest economies.

The Netherlands performed the best.

“The dip in the manufacturing PMI, its first fall for five months, is a disappointment and a reminder of the hesitant nature of the region’s nascent recovery.” said Chris Williamson, chief economist at Markit.

However, Mr Williamson emphasised that the overall reading was the “second-strongest” that it had seen for almost three years.

The biggest four economies of Germany, France, Spain and Italy all saw output rise.

And three countries – the Netherlands, Republic of Ireland and Spain all reported a faster rate of expansion compared to January.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza