- MarketPulse - https://www.marketpulse.com -

Eurozone Manufacturing Rose in April

The pace of decline in the eurozone’s manufacturing sector eased in May as new orders picked up, according to a closely-watched survey.

Markit’s Purchasing Managers’ Index (PMI) for the eurozone manufacturing sector rose to 48.3 from April’s 46.7, marking its highest level in 15 months.

A reading below 50 indicates shrinking activity.

However, the sector has now contracted for 22 months in a row, according to the Markit survey.

In Germany, Europe’s largest economy, the PMI figure rose to 49.4, just below the 50 threshold and marking its highest level for three months.

Spain and Greece saw the most dramatic improvements. Spain’s PMI reading of 48.1 was a 24-month high, while Greece’s reading of 45.3 was a 23-month high.

via BBC [1]

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
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