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Financial News: Eurozone Factory Growth Biggest In 6-1/2 Years

Eurozone Factory Growth Biggest In 6-1/2 Years

10/02/2017 - 04:22:00 (RTTNews)

(RTTNews) - The euro area manufacturing sector grew the most in over six-and-a-half years in September, final data from IHS Markit showed Monday.

The final manufacturing Purchasing Managers' Index climbed to a 79-month high of 58.1 in September from 57.4 in August. The flash score was 58.2.

The score suggested expansion for the fifty-first month in a row. At 57.4, the average reading over the third quarter was the highest since the opening quarter of 2011.

The upturn remained broad-based by nation, with all eight of the surveys comprising the euro area average reporting growth.

"The recovery is also looking increasingly broadbased, with rising demand across the region lifting all boats," Chris Williamson, chief business economist at IHS Markit said.

The German manufacturing sector logged its strongest performance over six years in September.

The headline IHS Markit/BME factory PMI improved to 60.6 in September, in line with flash estimate, from 59.3 in August. This was the highest reading since April 2011.

The French manufacturing sector's strong 2017 continued at the end of the third quarter, final data showed. The factory PMI came in at 56.1 versus 55.8 in August. The reading was slightly higher than the flash estimate of 56.0.

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