Latest news with #EurozoneManufacturingPMI
Fibre2Fashion
05-07-2025
- Business
- Fibre2Fashion
Eurozone manufacturing shows signs of stabilisation amid modest growth
The HCOB Eurozone Manufacturing PMI rose slightly to 49.5 in June from 49.4 in May, marking a 34-month high but still below the neutral 50 mark, indicating only a slight deterioration. However, the Manufacturing PMI Output Index fell to 50.8 from May's 51.5, reflecting a modest slowdown in growth. Production volumes rose for the fourth consecutive month, supported by stable order books and backlog clearance. New orders stabilised, ending a 37-month decline, while export sales also halted their downward trend, S&P Global said in a press statement. However, employment continued to fall for the 25th straight month, with input buying and inventories further trimmed. Supplier delivery times lengthened for the first time since January, and purchasing costs dropped for the third month in a row, leading to a slight reduction in output prices. Eurozone Manufacturing PMI rose to 49.5 in June, a 34-month high, though still below neutral. Output growth slowed slightly, while new orders and exports stabilised. Production rose for a fourth month, but employment and input buying declined. Ireland and Greece led growth; Germany improved. Optimism hit its highest since February 2022, with signs of recovery. Country-wise, Ireland (53.7) and Greece (53.1) led growth, followed by Spain (51.4) and the Netherlands (51.2). Germany improved to 49, its best in 34 months, while Austria (47.0), Italy (48.4), and France (48.1) saw deeper declines. 'There are signs of some stabilisation in the manufacturing sector. Companies have now expanded production slightly for the fourth month in a row,' said Cyrus de la Rubia, chief economist, Hamburg Commercial Bank (HCOB) . He noted that while uncertainties remain, the cycle may be turning due to necessary upgrades and replacements. 'Encouragingly, four of the eight eurozone countries... are now in expansion territory,' Rubia added, though France, Italy, and Austria are weighing on growth,' added Rubia. 'If Germany enters the growth zone, which we believe is likely given the new government's growth package, among other things, these countries could receive a positive boost, as Germany is their most important export destination.' 'A relatively high degree of optimism can be observed among manufacturers. In June, this indicator rose to its highest level since February 2022,' said Rubia, citing strong sentiment in Germany and Spain despite declining confidence in France and Italy. Fibre2Fashion News Desk (SG)
Business Standard
02-07-2025
- Business
- Business Standard
Euro in commanding position, holds above 101 mark against INR
Euro stayed in a commanding position against the US dollar as markets eyed possibility of a near term interest rate cut by the US Federal Reserve. The US central bank could start rate cuts this month after Fed Chair Jerome Powell, asked if July was too soon to consider rate cuts, said he can't say it but that the decision would depend on the economic data. Dollar index struggled near a multi-year low following these comments though Powells overall assessment of monetary policy was cautious. EUR/USD pair added to its recent gains amid these cues, holding around four year high. The Euro recorded its longest winning streak against the dollar in more than two decades in last week, clocking a spurt of around 1.50%. Economic cues are supporting the Euro. Eurozone Manufacturing PMI came in at 49.5 in June, up slightly from 49.4 in May and marking the highest level in nearly three years. The data reflects gradual stabilization across the blocs industrial base, with output expanding for the fourth straight month even as headline figure remains below the 50-mark, signaling the sector is still technically in contraction. EUR/USD currently quotes at 1.1842, up marginally on the day. On the NSE, EUR/INR futures are trading at 101.30, up 0.02% on the day after edging up to 101.40 in early moves.
