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Do Manufacturing Indicators Suggest Softer Economic Environment?

PART:
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Part 4
Do Manufacturing Indicators Suggest Softer Economic Environment? PART 4 OF 13

How France’s Manufacturing Activity Trended in July

France’s manufacturing PMI in July

According to data provided by Markit Economics, the final Markit France manufacturing PMI (purchasing managers’ index) stood at 54.9 in July 2017 compared to 54.8 in June 2017. This didn’t meet the initial estimate of 55.4.

How France’s Manufacturing Activity Trended in July

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France’s manufacturing PMI showed an expansion in manufacturing activity in July. A level above 50 indicates expansion in economic activity, while anything below 50 indicates contraction.

The stronger performance in France’s manufacturing PMI was mainly due to the following:

  • Production volume and output showed strong improvement in July 2017.
  • New business orders also showed strong improvement in July 2017.
  • Export orders and employment also rose at a stronger rate in July 2017.

Performance of various ETFs in July

The iShares MSCI France ETF (EWQ) rose 2.3% in July 2017. The Vanguard FTSE Europe ETF (VGK), which tracks Europe’s (HEDJ) (EZU) (IEV) economic performance, rose 2.8% in July 2017.

The indexes showed solid performances in July. The stronger Q2 earnings growth of various businesses in the Eurozone mainly drove the economic performance of the Eurozone in July. The stronger earnings growth is indicating that economic conditions are improving.

In the next part of this series, we’ll analyze the manufacturing PMI for Spain in July 2017.

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