21 Nov USA and Brexit duties: manufacturing in stock in Eurozone
The markets of the Euro area in October look to the future with cautious optimism. But to show the minus sign is the manufacturing sector.
The PMI in the Old Continent, in fact, stopped at 45.9 points from 45.7 in September compared to a preliminary estimate of 45.7 (50 is the threshold between growth and decline in activity).
According to an analysis by the Ihs Markit research company, the deterioration would be evident above all between investment goods and intermediate goods.
In this regard, Markit’s chief economist, Chris Williamson, attributes part of the responsibility to the climate of global instability: “The geopolitical concerns – as reported by Milano Finanza – which range from Brexit to USA trade policies, continue to create uncertainty, weakening further both national and foreign demand. It is particularly worrying – continues – the higher rate of employment cuts, a factor that increases the risk of the contraction of the contraction on families. It is therefore likely that this climate will cause a contraction of inflation in the coming months ”.