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German Manufacturing PMI Rises to 49.0 in May
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2013-05-29
The current data show that the Purchasing Manager Index (PMI) for the manufacturing industry in eurozone has increased from 46.7 in April to 47.8 in May, better than the expected 47.0 before. The general PMI increased from 46.9 in April to 47.7 in May, also better than the expected 47.2. However, all the points are still under 50, which is considered the division of growth and recession. This means the eurozone is still facing the economic downturn.
Among the member countries, German PMI increased from 48.4 in April to 49.0 in May, better than the expected 48.5; one economist said that due to the lack of new orders and layoff within the industry, the economic activities of German privately owned companies shows decline in May, which foresees the economic growth of Germany in Q2 will be in stagnancy. On the other hand, French PMI also increased from 44.4 in April to 45.5 in May, the highest record of the last 9 months, better than the expected 44.8
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