Euroland Factory PMI Score Moves Above U.S. Reading

January 3, 2011

The manufacturing purchasing managers index in the euro area, 57.1 in December, was higher than America’s reading, 57.0, in December for the first time since last July.  Both regions had faster factory growth than in November, but the U.S. improvement was restrained by a 1.8-point deterioration in employment.  Improvement in Euroland was paced by increases of 2.7 points in Italy, 2.6 points in Germany, 1.5 points in Spain, and 1.0 each in the Netherlands and Ireland.  The French reading dipped 0.5 but remained robust at 57.2.  The Greek index sank 0.8 points to a highly recessionary 43.1.

Mf’g PMI’s U.S. Euroland Spread EUR/USD
Feb 2008 48.8 52.3 -3.5 1.475
March 49.0 52.0 -3.0 1.553
April 48.6 50.7 -2.1 1.574
May 49.3 50.6 -1.3 1.555
June 49.5 49.2 +0.3 1.557
July 49.5 47.4 +2.1 1.577
August 49.3 47.6 +1.7 1.497
September 43.4 45.0 -1.6 1.437
October 38.7 41.1 -2.4 1.331
November 36.6 35.6 +1.0 1.268
December 32.9 33.9 -1.0 1.351
Jan 2009 35.6 34.4 +1.2 1.326
February 35.7 33.5 +2.2 1.303
March 36.4 33.9 +2.5 1.306
April 40.4 36.8 +3.2 1.318
May 43.2 40.7 +2.5 1.365
June 45.3 42.6 +2.7 1.401
July 49.1 46.3 +2.8 1.409
August 52.8 48.2 +4.6 1.426
September 52.4 49.3 +3.1 1.455
October 55.2 50.7 +4.5 1.489
November 53.7 51.2 +2.5 1.491
December 54.9 51.6 +3.3 1.459
Jan 2010 58.4 52.4 +6.0 1.409
February 56.5 54.2 +2.3 1.368
March 59.6 56.6 +3.0 1.356
April 60.4 57.6 +2.8 1.342
May 59.7 55.8 +3.9 1.255
June 56.2 55.6 +0.6 1.220
July 55.5 56.7 -1.2 1.278
August 56.3 55.1 +1.2 1.288
September 54.4 53.7 +0.7 1.308
October 56.9 54.6 +2.3 1.389
November 56.6 55.3 +1.3 1.368
December 57.0 57.1 -0.1 1.323

Copyright Larry Greenberg 2010.  All rights reserved.  No secondary distribution without express  permission.

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