(S&P Global) Manufacturing activity in the Eurozone weakened significantly in April, with the PMI plunging to a 15-month low of 55.5 in April, compared to 56.5 in March.
The Manufacturing Output Index hit a 22-month low of 50.7 in April, compared to 53.1 in March.
New orders grew at a slower rate as Covid restrictions in China halted activity amid the disruptions caused by the Ukraine war.
Cost pressures escalated, with the input prices jumping to a five-month high. The selling prices rose at a record pace.
Within the goods-producing sector, activity lost momentum as it slipped for the third straight month.
Growth was highest in the investment goods category although output declined. Consumer goods expanded the second-fastest, while the intermediate goods performed the weakest.
Among the main eurozone countries, growth was the strongest in the Netherlands. The rest of the eurozone, except France, posted declines that were at the lowest in more than a year.
Firms experienced stretched capacity as backlogs rose. The job creation grew slightly faster than March and the pace was above historical averages.
The expectations regarding future output rose slightly in April, although the degree of confidence remained low.
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