Europe’s industrial sector remains in a state of decline

According to S&P Global, June’s Eurozone Manufacturing PMI index fell from 47.3 to 45.8 points. The rate of decline in sub-indices such as new orders and purchasing activity accelerated. Employment in the industrial sector also fell for the thirteenth consecutive month. The downturn affected nearly all Eurozone countries.

The equivalent PMI index for Germany stood at 43.5 in June, down from May’s level of 45.4 points. German companies are facing a double blow: a poor internal economic situation and a reduced number of orders from other European markets and China.

Meanwhile, over in Poland, another major contributor to Europe’s manufacturing industry, the industrial sector continues to struggle. The country’s manufacturing PMI index remains below the neutral level of 50 points for 26 consecutive months.

In June, the PMI for Polish industry was 45 points, consistent with May’s figure and below the average trend of 45.5 points since May 2022. All sub-indices recorded declines, including new orders, production, inventory, purchasing activity, and employment. New orders fell for the twenty-eighth consecutive month, the longest decline on record, although the rate of decline slowed slightly.

Source: trans.info