In February the index Eurozone final manufacturing PMI it dropped to 53,2 points, from 54 in January. This was communicated by Markit, underlining that the survey is higher than the flash estimate (53 points) and that, "although it represents a modest slowdown in the rate of expansion from the record value in 32 months of January, the latest data has lengthened the current period of recovery of the sector to eight consecutive months”.
THEItaly slows down (at 52,3 points, from 53,1 in January), while the Netherlands are back at the top of the standings and, Markit explains again, together with Ireland and the Spain (from 52,2 to 52,5 points, the highest in four years for the Iberian country) were among the three nations to register the fastest rate of expansion compared to January.
Although improvement rates are declining, Germany (from 54,7 to 54,8 points) and Austria remain among the countries with the best performances. For the France, remained at the bottom of the rankings, however good news is coming from the manufacturing PMI, which rose to its highest value in five months (49,7, up from the flash estimate of 48,5).
According to Chris Williamson, chief economist at Markit, the data confirm the "fragile" nature of the recovery in Euroland, but suggest that "GDP could increase by 0,4-0,5% during the first three months of the year, again hope that the recovery does not lose further strength in March. Employment levels also increased for the second consecutive month", despite the fact that "growth is still very weak" on this front as well.
Outside the Eurozone, Markit Economics announced that in February the manufacturing PMI of Great Britain rose to 56,9 from 56,6 points in the previous reading. Insiders' expectations were set at 57,0 points.
