Eurozone Manufacturing PMI in April is the Lowest in 15 Months

The final eurozone manufacturing Purchasing Managers’ Index (PMI) fell to a 15-month low of 55.5 in April from 56.5 in March, S&P Global reported. However, it is still higher than the initial estimate of 55.3

The PMI index remains above the 50 mark, indicating that the manufacturing sector in the eurozone continues to grow.

Industrial production in the eurozone slowed in April as companies struggled to procure raw materials and demand was hit by higher product prices. There is also growing concern about the economic outlook.

The war in Ukraine with the imposed sanctions and the lockdowns in China are the main reasons for the decline. As a result, supply chain bottlenecks are worsening and factories are affected. Meanwhile, future economic indicators do not point to any positive changes soon.

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