Manufacturing PMI Decreased to 54.8 in Eurozone

Manufacturing PMI fell to 54.8 in the Eurozone. Manufacturing PMI Index, which declined in January, remained in the growth zone.

Manufacturing PMI decreased to 54.8 in the Eurozone. According to the data announced by IHS Markit, the index, which declined to the said level, continued to remain in the growth zone. The index was recorded as below 55.2 in December 2020. Quarantine and tightening decisions taken as a result of the increase in the number of cases in the coronavirus epidemic, which has mutated worldwide, also negatively affected the growth in the sector. Thus, the growth in the sector continued for the seventh month in a row. The value of the index over 50 indicates that the sector has grown. Chris Williamson, Senior Economist at IHS Markit, stated that the manufacturing industry in the region started strong in 2021 and that the new measures taken for quarantine pose a risk to the economy of the region.