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Eurozone manufacturing growth remains subdued

EURUSD News by Newsroom on 05:24 August 01, 2018 EST

Eurozone manufacturing activity remained subdued at the start of the third quarter, as anticipated, final data from IHS Markit showed on Wednesday.

The factory Purchasing Managers' Index rose to 55.1 in July, in line with flash estimate, from 54.9 in June.

The latest score was a dash better than June's 18-month low and more than five points below the record high registered at the end of 2017.

However, in Germany, higher output and stronger new orders led to faster growth in the nation's manufacturing sector in July. Markit’s Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of the economy, rose to 56.9 from 55.9 in June. July matched May’s reading and was well above the 50 the border between growth from contraction.