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Friday, August 1, 2008

French Manufacturing PMI Contracts In July

The seasonally adjusted RBS/Markit Eurozone Manufacturing PMI (Purchasing Managers' Index) registered 47.4 in July, down from 49.2 in June and slightly below the flash estimate for July of 47.5. The final reading signalled the second consecutive monthly deterioration in manufacturing sector business conditions and the steepest rate of decline since June 2003.

Output meanwhile fell at the fastest rate since December 2001 in France. The French manufacturing PMI slipped to 47.1 in July, down from the previous month's 49.2 reading.

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