SMM4 18 news: just, Germany released the April manufacturing PMI data, released the value of 44.5, the previous value of 44.1, the market expected 45, after the release of the data, the euro against the dollar EUR/USD fell 26 points a minute, the dollar index DXY short-term rose 15:00. The dollar has soared above 97.3 and the Turkish lira has fallen below 5.85, its lowest level since March 22.
Just yesterday, Europe announced that the final annual rate of CPI in the eurozone in March was 1.4 per cent, the lowest in nearly a year, while the monthly rate of CPI in the eurozone recorded only 1.0 per cent in March, putting considerable pressure on the ECB, which is fighting the economic downturn. Germany immediately cut its forecast for 2019 growth to 0.5%. This is the second time Germany has cut its economic forecast this year, as the German economy ministry cut its forecast for 2019 growth to 1.0 per cent in January from 1.8 per cent as a result of the global economic slowdown and the uncertainty of Brexit. At the same time, the IMF also cut its forecast for the German economy for the second time. The IMF's April report pointed out that the German economy is expected to grow by 0.8% in 2019 and 1.4% in 2020. Phil Smith, an economist in charge of IHS MARKIT, a market research firm, said that the German auto industry had declined significantly, European competition was strong, and overall global demand was slowing. Other data showed a sharp decline in German commodity exports and manufacturing confidence hit a six-and-a-half-year low.
Equally tragic is France, where manufacturing PMI fell to a 32-month low of 49.6 in April, down from a previous value of 49.7 and expected to be 50. The initial value of manufacturing PMI in the euro zone was 47.8 in April, also below expectations of 47.9, although it was slightly higher than the previous value of 47.5. Chris Williamson, chief economist at IHS MARKIT, a market research firm, said the eurozone economy had a disappointing start to the second quarter, with the initial value of PMI at one of the worst levels since 2014.
Germany and France, as the leader and number two of the euro zone, the manufacturing PMI has been below the withered line for several months in a row, and there has been no significant improvement. In addition to the fact that Brexit has now entered a "dormant" state, Notre Dame in France has just caught fire. The French yellow vest movement is not yet completely over, the United States and Europe trade tensions and other adverse factors, I am afraid that the European economy out of the quagmire will be a long way off.