Eurozone Manufacturing Activity Continues To Shrink
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 01 2024
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Source: Business Insider
Manufacturing Sector Decline: The euro area manufacturing sector continued to contract in July, with the HCOB PMI at 45.8, indicating a significant reduction in orders and output, particularly in Germany and France, while Spain showed slight growth.
Unemployment Rate Increase: The unemployment rate in the euro area rose to 6.5% in June, as firms reduced staffing amid weak economic activity, with an increase of 41,000 unemployed individuals from May.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
