No signs of recovery for euro zone manufacturing as Germany joins the downturn

There was a slew of purchasing managers’ index data for Europe out today.  Here’s what you need to know about the outlook for EU manufacturing.

Euro zone manufacturing activity shrank for the 21st consecutive month, with new export business falling faster than they have in four months (pdf).

Manufacturers actually reported upticks in demand from the US and China, meaning deteriorating export orders was due in large part to a drop-off in trade between euro zone countries. Here’s a look at those shared fortunes:

Output, new orders, and jobs in Germany’s manufacturing sector all fell in April. Business conditions are worsening at the fastest pace since last December (pdf).