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<Econ> Eurozone Apr S&P Manufacturing PMI Confirmed at 52.2, Hits Nearly 4-Year High
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S&P Global reported that, after seasonal adjustment, the Eurozone Manufacturing Purchasing Managers' Index (PMI) for April was confirmed at 52.2, up from 51.6 in March, in line with market expectations and marking a 47-month high. All eight countries covered by the survey recorded PMIs in expansionary territory, the first time since June 2022. Output expanded for the 13th time in the past 14 months, with the pace of growth the fastest since August last year. Growth in new orders accelerated, registering the most significant increase in four years. New export orders also rebounded, recording growth for the first time in more than four years. Demand was mainly driven by customers bringing forward purchases to avoid energy price increases and supply disruptions triggered by the Middle East conflict. On prices, input cost inflation surged to a 46-month high. Since the outbreak of the Middle East conflict in mid-February, the input price index has cumulatively risen by 19 points, an increase unprecedented in the nearly 30-year history of the survey. Output price inflation accelerated accordingly, marking the largest single-month increase since the survey began in 1997, reflecting manufacturers' substantial pass-through of costs. Supplier delivery delays were the most severe since July 2022, mainly due to bulk purchasing, logistics disruptions caused by the Middle East conflict and reduced raw material supplies. Both purchasing inventories and finished goods inventories continued to decline, though at a slower pace than in March. Employment has remained in contraction for nearly three consecutive years, despite an increase in backlogs of work. Firms' expectations for output over the coming year fell to the lowest level since November 2024, in sharp contrast to the four-year high recorded in February. (da/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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