The slowdown in the recovery of the manufacturing sector in the Eurozone continues. In June, the PMI index elaborated by Markit, relating to both orders and production, in fact stood at 51,8, beyond the threshold of 50 points (which outlines the demarcation between expansion and contraction of activity) , but down from 52,2 in May. The one recorded in June is the lowest value in the last 7 months. In the second quarter, the average index of the currency union was 52,4 against 53,4 in the first three months of the year.
The same goes for Italy, where activity in the Italian manufacturing sector remained expanding for the twelfth consecutive month in June, but growth marked the second slowdown in a row. The PMI index for our country stood at 52,6 against 53,2 in May and against the consensus of analysts, who expected a stationary value.
The main components of the index fell compared to the previous month, although they remained above the level of 50. The sub-index of production slowed down sharply, from 55,8 to 54,9.
According to analysts, the Italian economy is expected to grow in the second quarter, albeit rather weakly. For all of 2014, according to Confindustria estimates, our economy will grow by 0,2%, far below the Government's forecasts.
