Eurozone manufacturing ‘in recession’

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Industrial production is the key indicator for chemical sales. And it appears a significant decline is now underway in manufacturing. The chart shows August’s purchasing manager indices (PMIs) for most of the major countries/regions. India, Switzerland, Greece and Brazil were the only ones showing expansion.

Reporting on the eurozone figures this morning, the Financial Times says they indicate that it ‘has fallen into recession, with industry particularly badly hit by the fallout from global economic turmoil’. It adds that new orders in the eurozone are falling at the ‘fastest pace in 5 years’.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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