Monday, May 4, 2020

4/5/20: Eurozone Manufacturing PMIs Crater to Historic Lows

I do not commonly cover Eurozone PMIs, but April read-out is shocking. Truly, abysmally, shocking.

From Markit release:

  • Final Eurozone Manufacturing PMI at 33.4 in April (Flash: 33.6, March Final: 44.5), so down 11.1 points m/m
  • March was bad - at 44.5 well below the zero growth line of 50.0. April came in woefully bad. 
  • Confidence sinks to record low and job losses mount
  • This was "the lowest ever recorded by the series (which began in June 1997), surpassing readings seen during the depths of the global financial crisis". 

I have covered BRICS and Global Manufacturing PMIs for April here:

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