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Financial News: Eurozone Factory Growth Near Record High

Eurozone Factory Growth Near Record High

12/01/2017 - 04:26:00 (RTTNews)

(RTTNews) - Eurozone manufacturing activity expanded notably in November underpinned by production and new orders, survey data from IHS Markit showed Friday.

The final factory Purchasing Managers' Index rose to 60.1 in November, its best reading apart from April 2000's series-record high. The score improved from 58.5 in October.

The index has remained above the neutral 50.0 mark for 53 months and above the flash estimate of 60.0.

Growth of output and new orders climbed to multi-year highs, supporting survey-record job creation.

The upswing in the eurozone manufacturing sector remained broad-based by nation, with all of the countries covered by the survey reporting expansions for the sixth straight month.

Germany's IHS Markit/BME manufacturing PMI climbed to 62.5 in November from 60.6 in October. The score matched flash estimate.

The latest reading was the second-highest seen since the survey began in April 1996, exceed only by February 2011's 62.7.

France's manufacturing growth hit a 7-year high in November. The final PMI advanced to 57.7 in November from 56.1 in October. The flash score was 57.5.

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