Activity in Spanish industry fell unexpectedly last month. In France, too, there was a decline and in Germany, industrial activity was less up-to-date than previously estimated. This is reflected in new figures from the UK market researcher Markit.
The Purchasing Manager Index for the Spanish industry was 49.9, from 53.5 a month earlier. A position above 50 is a sign of increasing activity, below which there is shrinkage. Economists had actually counted on a level of 53.
In France there was a level of 49.8. That’s a little better than the estimated score of 49 before August. For the German industry, the purchasing manager index was revised in a final figure from 53 to 52.2.
On the other hand, the indicator for Italian industry has reached 53.1. This is higher than the average score of 52 provided by economists. For the euro area as a whole, the industry’s Purchasing Manager Index has been confirmed at 51.7.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email maurice.eisma@economicinform.com
