Eurozone Manufacturing PMI Saw a Decline for the First Time in September

Manufacturing PMI Data for September Announced in the Eurozone

Hamburg Commercial Bank (HCOB) published the final Manufacturing Purchasing Managers' Index (PMI) data for the Eurozone for September 2023.

PMI Value Declined to 49.8

According to the published data, manufacturing PMI in the Eurozone declined to 49.8 points in September, marking its first decrease this year. In September 2022, the PMI value was 50.7, remaining above the growth threshold.

Inconsistent with Economists' Forecasts

The median forecast of economists participating in the Bloomberg survey was for the manufacturing PMI to be 49.5. This highlights the discrepancy between market expectations and actual data.

PMI and Economic Outlook

In this context, a PMI value above 50 points indicates economic growth, while a value below it signals contraction. This decline is considered a significant indicator for the future of the Eurozone economy.