Eurozone Private Sector Expands Most Since 2011
Eurozone manufacturing activity gathered further momentum in February but the pace of growth was slightly slower than the initial estimate, final data from IHS Markit showed Wednesday.
The manufacturing Purchasing Managers’ Index rose to 55.4 in February from 55.2 in January. This was the highest reading since April 2011 but slightly below its earlier flash estimate of 55.5.
Both manufacturing production and new orders both rose at the fastest rates since April 2011.
Accelerated growth of production and new work received had positive impacts on business optimism and job creation during February, the survey showed.
Average input costs rose at the quickest pace since May 2011 and output charges climbed to the greatest extent for over five-and-a-half years.
In Germany, manufacturing growth reached its highest level in nearly six years in February. Meanwhile, France’s growth slowed to three-month low.
Germany’s factory PMI rose to a 69-month high of 56.8 from 56.4 in the prior month. But the reading was below the flash 57.0.
France’s manufacturing PMI dropped to 52.2 from 53.6 in January. The flash reading was 52.3.
Source: RTT News
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