Ekonomické zprávy

Eurozone manufacturing PMI fell less than forecast in April

According to the report from HCOB, activity in the eurozone manufacturing sector continued to decline in April, while the pace of contraction accelerated compared to March, as production volumes fell for the first time since the beginning of the year.

The Eurozone manufacturing PMI fell to 45.8 points in April from 47.3 points in March. The April value was the lowest since May 2020, but exceeded economists' forecasts (45.5 points). The index remains below 50 points, which indicates a reduction in activity in the sector, for the 10th month in a row. Of the eight eurozone countries monitored by the survey, seven posted a sub-50.0 Manufacturing PMI reading in April.

The data showed that production volumes declined for the first time in three months, with the latest decline being the strongest since December 2022. Meanwhile, new orders recorded the 12th consecutive monthly drop and the sharpest pace in 4 months. According to panel members, customer hesitancy and high client inventory levels restricted new business intakes. Pending orders declined for the 11th month in a row and at the fastest pace since November 2022. With factory new orders decreasing, purchasing activity continued to fall in April as firms responded to reduced production requirements Meanwhile, eurozone manufacturers recorded a second successive month-on-month decrease in their input costs. The decrease in operating expenses was the fastest in almost three years, with rapidly improving supply conditions helping to cool inflationary pressures.

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