The crisis continuesindustry in the Eurozone. In June, the PMI manufacturing index calculated by Markit scored 45,1 points, the same as the previous month, remaining well below the fateful threshold of -50, which marks the boundary between expansion and contraction. The indicator is the result of a survey of purchasing managers in the euro area. The latest readings are the worst since June 2009.
Restricting the gaze to individual countries, Italy recorded the eleventh consecutive monthly contraction, with a general index that fell from 44,8 to 44,6 between May and June. Production and new orders worsen, especially domestic ones.
Bad news for the Germany. German manufacturing activity contracted at its fastest pace in three years last month, with new orders falling for the twelfth straight month, signaling economic pain linked to the eurozone crisis and slowdown of the global cycle.
The PMI slipped to 45,0 from 45,2 points in May, recording the steepest decline in the sector since June 2009. As for Great Britain, the indicator remained below 50, but rose more than expected, reaching 48,6 points from 45,9 points in May.
