Britain – Eurozone: The processing supply index has further deteriorated

The PMI index for manufacturing activity in March declined to 46.1 points, recording further deterioration, as it shrunk at a faster rate than in February, according to a survey published today (2.4.2024). In particular, HCOB’s final supply manager (PMI) index, drawn up by S&P Global, declined to 46.1 units in March from 46.5 in February, surpassing the initial estimate of 45.7 units. However, the indicator remained for the 21st month below the 50-unit threshold separates growth from shrinkage. The production index increased from 46.5 points in February to 47.1, higher than the initial estimate for 46.8 points. New orders were reduced for a 23rd month despite the factory dropping their prices at the fastest rate since November. Source: RES – ICM