Eurozone manufacturing sector stems the bleeding

摘要

The eurozone's manufacturing sector contracted again in June, but at a rate more comparable to levels seen before the Covid-19 pandemic than the heightened diminution of activity seen in April and May. Still, economic forecasts do not suggest any swift return to the sector expansion seen each month between July 2013 and March 2019. The IHS Markit manufacturing Purchasing Managers' Index (PMI) reading for June was 47.4, compared with 39.4 in May and the nadir of 33.4 in April. A reading below 50 indicates contraction.