Eurozone manufacturing PMI reads 62.8 in July

By Tuba Sahin

ANKARA (AA) – The Eurozone Purchasing Managers' Index (PMI) for the manufacturing sector stood at 62.8 in July, the lowest since March, a London-based global data company said on Monday.

The figure decreased slightly from 63.4 in June, the IHS Markit data showed.

Despite losing momentum compared to previous month, the manufacturing growth remained strong in Eurozone, it said.

Consumer, intermediate and investment goods makers showed sharp expansions in July, it noted.

There was a broad decrease across the national Manufacturing PMIs in July, except Germany of which growth rate hit a three-month high.

"Elsewhere, the Netherlands and Greece retained their positions as the fastest and slowest growing countries within the euro area respectively," it said.

July's output index signaled the softest increase in eurozone production since February.

The Netherlands, Germany and Austria posted sharp rates of output growth.

As a critical gauge of manufacturing sector health, monthly PMI indices are based on surveys and national data, and indicate growth compared to the previous month when above 50 points and contraction when below.

Meanwhile, Turkey's PMI for the manufacturing sector rose to 54 in July, hitting a six-month high.