Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


Euro zone manufacturing sees potential signs of recovery in May, PMI shows

LONDON (Reuters) – The long-running downturn in euro zone manufacturing may have turned a corner last month, according to a survey which showed new orders declined at their slowest pace in two years, leading to improved business confidence.

HCOB’s final euro zone manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 47.3 in May from April’s 45.7, below the 50 mark denoting growth in activity for a 23rd month. It was just shy of a 47.4 preliminary estimate.

An index measuring output, which feeds into a composite PMI due on Wednesday and is seen as a good gauge of economic health, jumped from April’s 47.3 to a 14-month high of 49.3, albeit below the 49.6 flash estimate.

“This could be the turning point for the manufacturing sector. The industry is on the verge of halting the production decline that has persisted since April 2023,” said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

“Encouragingly, business confidence regarding future production is at its highest level since early 2022.”

Part of that improvement is likely due at least in part to the new orders index – a measure of demand – bouncing to a two-year high of 47.3 from 44.1.

Falling production costs again allowed factories to reduce their prices charged, potentially giving the European Central Bank room to reduce interest rates on Thursday, a widely expected move as inflation eases.


(Reporting by Jonathan Cable; Editing by Susan Fenton)


Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts