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Euro zone's manufacturing activity picks up

Euro zone's manufacturing activity, last month, following the increase in demand outside and within the region, picked up, as per a survey today.

Euro zone's Markit PMI to 52.6

Despite the rise in manufacturing, the growth in Ireland, Italy, Spain, and France resumed weak.

The euro region's Markit PMI climbed in August from 51.7 to 52.6 and remained above the benchmark of 50.

According to Ben May, there were considerable improvements in manufacturing, but the big concern is what will happen with the services industry that has approached its weakest zone since 2014.

Furthermore, the new factory orders climbed from 51.4 to 53.4, the latest highest reading, thus accelerating hiring.

Moreover, the upturn has generated more jobs. As per the IHS Markit chief business economist, Chris Williamson, the appreciation of the factory payroll was the best within a period of four years.

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Monday, 03 Oct, 2016 / 1:37

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Source : https://www.argusfx.com/en/research-education/market-analysis/news/euro-zone-s-manufacturing-activity-picks-up

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