April 2018 Eurozone Markit manufacturing PMI final 2 May 2018

  • Flash 56.0. March 56.6
  • Output prices 57.5 vs 57.0 flash. March 57.3

Summary of the PMI’s today;

  • China 51.1 vs 50.9 exp. Prior 51.0
  • Spain 54.4 vs 54.2 exp. Prior 54.8
  • Italy 53.5 vs 54.4 exp. Prior 55.1
  • France 53.8 vs 53.4 exp. Prior 53.4
  • Germany 58.1 vs 58.1 exp. Prior 58.2
  • Greece 52.9 vs 55.0 prior

Not all good news despite the rise from the flash (which is still a loss vs March), as Markit notes;

  • Slower rates of expansion in five of the eight nations covered
  • Slower increases in new work and employment offset slightly stronger gain in output

As for inflation;

The rate of input price inflation faced by euro area manufacturers remained substantial in April, despite easing to an eight-month low. Part of the increase in purchase prices was passed on to clients in the form of higher output charges in April. Moreover, the rate of selling price inflation edged up from March’s three-month low. All of the nations covered registered an increase in charges, with the steepest seen in Germany and the weakest in Greece.

 

Ryan Littlestone

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