{"id":14277,"date":"2024-06-04T08:00:38","date_gmt":"2024-06-04T05:00:38","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=14277"},"modified":"2024-06-04T08:00:38","modified_gmt":"2024-06-04T05:00:38","slug":"eurozone-manufacturing-sees-potential-signs-of-recovery-in-may","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=14277","title":{"rendered":"Eurozone manufacturing sees potential signs of recovery in May"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/06\/eurozone-manufacturing-sees-potential-signs-of-recovery-in-may.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>The long-running downturn in eurozone 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\u2019s final euro zone manufacturing Purchasing Managers\u2019 Index (PMI), compiled by S&amp;P Global, rose to 47.3 in May from April\u2019s 45.7, below the 50 mark denoting growth in activity for a 23rd month. It was just shy of a 47.4 preliminary estimate.<\/p>\n<p>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\u2019s 47.3 to a 14-month high of 49.3, albeit below the 49.6 flash estimate.<\/p>\n<p>\u201cThis 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,\u201d said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.<\/p>\n<p>\u201cEncouragingly, business confidence regarding future production is at its highest level since early 2022.\u201d<\/p>\n<p>Part of that improvement is likely due at least in part to the new orders index \u2013 a measure of demand \u2013 bouncing to a two-year high of 47.3 from 44.1.<\/p>\n<p>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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The eurozone manufacturing Purchasing Managers&#8217; Index (PMI) rose to 47.3 in May from April&#8217;s 45.7, showing new orders declined at their slowest pace in two years.<\/p>\n","protected":false},"author":3,"featured_media":14278,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[8625,1902,186,12229,4601,5281,1498,2511,2190,4893,4053,599,51,7689,12227,4081,3767,210,7132,1991,67,899,1401,10532,4078,9597,12228,4895,8875,1033,8872,5115,1229,12100],"class_list":["post-14277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-april","tag-bank","tag-business","tag-business-confidence","tag-central-bank","tag-charged","tag-confidence","tag-costs","tag-decline","tag-demand","tag-downturn","tag-euro","tag-european-central-bank","tag-eurozone","tag-eurozone-manufacturing","tag-future","tag-growth","tag-health","tag-improvement","tag-industry","tag-inflation","tag-interest","tag-interest-rates","tag-la","tag-manufacturing-sector","tag-move","tag-new-orders","tag-output","tag-pmi","tag-prices","tag-production","tag-recovery","tag-survey","tag-turning-point"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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