Euro area manufacturing PMI falls to two-year low

  • by Ahmed Mamdouh
  • October 1, 2018, 8:20 AM
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Euro area manufacturing Purchasing Managers’ Index slipped to the lowest level in two years in September on global trade war fears.

The final manufacturing PMI data released on Monday was revised down to 53.2 from an initial of 53.3, missing forecasts, siding from 54.6 in August.

“The slowdown can be linked to sluggish demand and increased risk aversion among customers, often linked to worries about trade wars and tariffs, but also ascribed to rising political uncertainty and higher prices,” said Chris Williamson, Chief Business Economist at IHS Markit.

On Wednesday, the euro area will release the final services PMI for September, which would provide a complete picture about the growth last month.

As of 08:19 GMT, the euro traded lower at $1.1597 after it hit a low of $1.1573 one hour before the release of the news.

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