Eurozone PMI Improved But Not Enough Despite Heavy Discounting

Eurozone factories performed slightly better in April, with output not losing as much momentum as initially forecast although growth in activity stayed weak despite deep discounting, a survey shows.

There was a mixed picture , with manufacturing growth strong in Italy and Spain last month while Germany showed signs of reviving. Activity in France, however, contracted at the steepest rate in a year.

Markit’s manufacturing Purchasing Managers’ Index (PMI) for the eurozone rose to 51.7 from March’s 51.6. A reading above 50 indicates growth.

via The Guardian

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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