EZ June manufacturing downturn steeper than estimate - PMI
By Frank Prenesti
Date: Monday 03 Jul 2023
(Sharecast News) - Eurozone manufacturing activity contracted faster in June than a flash estimate in response to the European Central Bank's tightening of monetary policy, which in turn squeezed access to finance, according to a survey published on Monday.
The S&P Global final manufacturing Purchasing Managers' Index (PMI) fell to 43.4 from May's 44.8, its lowest since the Covid pandemic was cementing its grip on the world, below a preliminary reading of 43.6.
A mark of 50 separates growth from contraction.
Reporting by Frank Prenesti for Sharecast.com
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