FX.co ★ Eurozone Manufacturing PMI Drops to 45.6 in April 2024

The Eurozone manufacturing Purchasing Managers' Index (PMI) declined to 45.6 in April 2024, down from 46.1 in March of the same year. This decrease indicates a further contraction in the manufacturing sector across the Eurozone. The data, which was updated on April 23, 2024, highlights the challenges faced by businesses in the region.

The PMI is a crucial indicator of economic health as it reflects the prevailing business conditions in the manufacturing industry. A reading below 50 typically suggests a contraction, while a reading above 50 indicates expansion. With the April figures falling to 45.6, it signals ongoing struggles within the Eurozone manufacturing sector.

As the Eurozone grapples with various economic uncertainties, including supply chain disruptions and rising input costs, stakeholders will keenly monitor future PMI releases for signs of recovery or further deterioration in the region's manufacturing activity.