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By Rahul Karunakar
(Reuters) – The expansion of the euro zone industry slowed to 18 months in June, weakening for the sixth consecutive month because of worries aroused by trade barriers and their impact on business (PMI).
The final PMI of the IHS Markit industry for the euro area fell to 18-month low of 54.9 from 55.5 in May and preliminary to 55.0, but still above the a bar of 50 that separates growth from contractions.
The production subindex fell to 54.2 from 54.8 in May, its lowest level since November. 2016,
"The euro area industry experienced the weakest expansion in a year and a half in June, with risks clearly pointing to further growth in production in the coming months ", said Chris Williamson, Chief Economist of the IHS Markit
" The research reveals the actions of companies related to the impact of tariffs and trade wars, suggesting that companies are preparing for potential for further losses of exports. "
Nothing in the PMI report suggests that blockbusters will resume robust from the end of last year. New order growth in June fell to its lowest level in almost two years, at 53.2 versus 54.2 in May.
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