Manufacturing PMI in the Eurozone recorded the sharpest decline in 6 years
In the Eurozone, the manufacturing sector purchasing manager index (PMI) recorded the sharpest decline in nearly six years due to global trade and Brexit concerns.
Manufacturing sector production in Europe contracted under the leadership of Germany and Italy in February; purchasing managers index fell to 49.3.
IHS Markit chief economist Chris Williamson said,, The manufacturing in the Eurozone is the sharpest decline in nearly six years. As forward-looking indicators move further into the spring season, the risks are even further down.