July 2023 NBS Manufacturing PMI rose to 49.3, beating forecasts (49.2). Factory activity declined for 4th month due to post-pandemic recovery struggles. New orders, export sales fell for 4th month; buying activity slowed. Employment dropped for the 5th month at a steeper rate (48.1).
Euro Area’s annual inflation rate slowed for the third consecutive month to 5.3% in July 2023 from 5.5% in June, in line with forecasts, marking the lowest reading since January 2022.