Eurozone manufacturing PMI falls to lowest level since 2020 in July

S&P Global data showed that the Eurozone manufacturing PMI fell to 42.7 in July from 43.4 in June, the lowest level since May 2020 as demand fell.

The output price index fell to a 14-year low of 45.0 in July from 47.0 in June, and demand fell sharply despite lower input costs that fell at the fastest pace since mid-2009 due to increased competition among suppliers that allowed factories to cut their duties.
 

The output benchmark, which feeds the composite PMI, a good measure of economic health, fell to 42.7 in July from 44.2 in June, the lowest level in more than three years.