Business activity in the eurozone industry contracted again in September. Research firm Markit reported this on the basis of a definitive figure. In particular, the contraction in Germany, the largest economy in the eurozone, weighed heavily on the figures.
The German downturn, however, was slightly less severe than previously reported, which also made the European contraction a little less apparent. In France, growth almost came to a halt.
The purchasing managers’ index for the euro area industry recorded a score of 45.7 against 47 in August. A provisional estimate of 45.6 was reported for a provisional estimate for the indicator. A level higher than 50 indicates growth and below that shrinkage.
Markit stated that the industry index in France was 50.1, compared to a previously reported 50.3. Germany recorded a score of 41.7 against 41.4 in the provisional estimate. The indicators for Italy and Spain were 47.7 and 47.8. A state of 48.3 was reported for the United Kingdom. As a result, the shrinkage of British industry is less than what was generally taken into account. Connoisseurs counted on a score of 47, compared to a previously reported score of 47.4.