Mumbai, Aug. 1 -- The euro area manufacturing sector recorded a broad stabilization of operating conditions at the start of the third quarter. Output growth was sustained, although the upturn was the softest since March, while new orders saw a fresh (albeit marginal) reduction amid a deterioration in export demand.
Positively, factory job shedding cooled to its least pronounced in almost two years. As for prices, input costs were unchanged and this was practically true for output charges too. There was a slight easing in year-ahead growth expectations, although forecasts remained slightly above their long-term average.
The HCOB Eurozone Manufacturing PMI edged up to a three-year high of 49.8 in July, from 49.5 in June. Posting only just b...