China Drying Network News reported that the slowdown in the euro zone’s manufacturing activity in July accelerated, indicating that the region’s economy has started unfavorably in the third quarter and that the economic recovery is far behind in the near future. Markit Economics announced on Wednesday that the euro zone's manufacturing purchasing managers' index (PMI) fell to 44.0 in July from 45.1 in June. The manufacturing activities of Germany and France, the two largest eurozone economies, fell at the fastest rate in more than three years. In July, the German manufacturing PMI fell to 43.0 from 45.0 in June.
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German manufacturing PMI fell to 43.0 in July from 45.0 in June