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Friday, August 1, 2008

German Manufacturing PMI Shows Slight But Continuing Expansion In July

The seasonally adjusted RBS/Markit Eurozone Manufacturing PMI (Purchasing Managers' Index) registered 47.4 in July, down from 49.2 in June and slightly below the flash estimate for July of 47.5. The final reading signalled the second consecutive monthly deterioration in manufacturing sector business conditions and the steepest rate of decline since June 2003.

German manufacturing activity by contrast, continued to show some resilience, registering a reading of 50.9 in July, down from 52.6 in June.

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