Chart of the Day: European Manufacturing PMIs show weakness

By Edward Harrison On May 24, 2012

The data out of Europe today are grim. Marc Chandler gave a quick summary this morning:

· Euro area mfg PMI 45.0 in May vs 46.0 in April

· Euro area non-mfg PMI46.5 vs 47.9

· German mfg PMI 45 vs 46.3

· German non-mfg PMI 52.5 vs 52.6

· French mfg PMI 44.4 vs 46.9

· French non-mfg 45.2 vs 45.2

· German May IFO 106.9 vs 109.9

· UK Q1 GDP -0.3% vs -0.1% initial estimate

Here’s a chart via Bloomberg that gives the overall picture. The data are poor in all regions including Germany and France.

Markit, which collects the data, says that the latest PMIs are consistent with GDP in Europe contracting 0.5% this quarter.

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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1 Comment

Greatest Blogs And Websites says 12 years ago

The problems in the eurozone could cause a worldwide recession. Europe is already in a recession things appears to be getting much worse. The only thing that the united states has going for it is we seem to be in somewhat better shape than the european union.

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