RTTNews - Eurozone manufacturing activity in June fell less than initially estimated, reports said Wednesday, citing final data released by the Markit Economics.
The Markit Manufacturing Purchasing Managers' Index or PMI for the euro area rose to 42.6 in June from 40.7 in May. It was also above the flash estimate of 42.4. The June reading thus reached its highest level since September last year. However, the index is still below the 50-mark, suggesting a contraction in the sector.
The indicator for the German manufacturing sector rose for the fifth straight month to reach an eight-month high of 40.9 from 39.6 recorded in May. Meanwhile, the flash reading was 40.5.
The decline in French manufacturing activity also eased in June. The Markit/CDAF PMI climbed to 45.9 in June from 43.3 in May and from a preliminary reading of 45.5. The latest reading is the highest in eleven months and the index extended increase for the fourth straight month in June.
Out of the euro area, the CIPS/Markit manufacturing PMI for the U.K. rose to 47 in June from 45.4 in May, while the consensus was for 46.4. The pace of decline in manufacturing activity was the slowest in more than a year. The index for manufacturing output went above the 50-mark to log a reading of 52.1 from 48.1 in May. Output rose for the first time in fifteen months.
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