The eurozone manufacturing sector saw its downturn worsen at the start of the third quarter, according to the latest HCOB PMI® survey data. Production volumes, new orders, employment and purchasing activity all declined at faster rates than in June. Excluding pandemic-related and lockdown-hit months, the reductions seen for factory output and demand for eurozone goods were the most severe since the global financial crisis in 2008-09. This was also true of other survey indicators such as new export orders, backlogs of work, and quantity of purchases. Weakness in the economy was also displayed via the HCOB Suppliers’ ... (full story)