Factory activity slumps further in europe

摘要

The manufacturing conditions of major European economies remained deteriorated in August, with the global trade tensions being the main concerns for the industry.The manufacturing sector of Germany, Europe’s largest economy, “remained frm-ly in contraction in August” amid falling production and orders, according to IHS Markit. The August PMI was at 43.5, close to July’s seven-year low of 43.2. Besides, goods producers are pessimistic in their expectations. “A marked drop in frms’ output expectations to a record low suggests that things could even get worse before they get better,” Phil Smith, principal economist at IHS Markit, commented. The weakness in Germany’s manufacturing sector refects falling automotive and machinery sectors, in particular, Metal Expert understands.