Sentiment indicator: Spring in the EU Purchasing Managers' Index?
Sentiment indicator: Spring in the EU Purchasing Managers’ Index?

22 March 2024 – The important Purchasing Managers’ Index in the eurozone rises for the third month in a row. And is the EU Critical Raw Material Act once again based on the assumption of false data?

Sentiment indicator: Spring in the EU Purchasing Managers’ Index?

The Purchasing Managers’ Index in the eurozone, an important leading indicator for many, posted gains for the third month in a row in March. Deutsche Bank analysts see this as a sign of further medium-term stabilisation in the economy.

At 49.9 points, the overall indicator index fell just short of the expansion zone of 50 points, but the hope remains that the spring that has begun in the economy will not be stifled again by stupidity or whatever intentions in Brussels or Berlin with support from Frankfurt.

Critical Raw Material act: The tragedy of the EU’s statistical data

The data, figures and “facts” of the European Union, which are used as a basis for decisions on far-reaching measures, are subject to a sometimes dramatic error rate. We have already pointed this out several times in the past. Calculation errors in the justification for the extension of the EU Safeguard Measure in 2021, or the incorrectly assumed figures on the companies affected by the EU Carbon Border Tax CBAM are prominent examples of this.

EU aluminium demand of almost 140 million tonnes per year from 2030?

The Critical Raw Material Act adopted by the Council of the European Union in March 2024 could now join the list of statistical errors. Some of the infographics and figures published by the EU appear to have been completely plucked out of the air. Or they have simply added a few too many zeros.

Because that would mean, for example, that the EU would need twice the amount of aluminium that is currently consumed in China every year.

Another example of the fact that the EU’s figures should be treated with caution and contain more errors than the Commission and the member states would like.

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