Euro zone factory growth at more than four-year high in August, PMI shows
New orders and export demand drove the euro zone’s strongest factory expansion in more than four years, while input-cost inflation eased to a six-month low.
- Eurozone manufacturing activity reached its fastest pace in over four years in August, with the PMI rising to 52.7 from 51.9 in July.
- Factory output growth accelerated to a 54-month high of 53.3, driven by the strongest rise in new orders since early 2022 and robust contributions from Germany and France.
- Employment remained broadly unchanged after three years of consecutive declines, while input cost inflation eased to a six-month low, though it stayed above pre-conflict levels.
- The European Central Bank is expected to raise interest rates this month as August inflation rose to 3.3% from 2.9%, exceeding the bank's 2% target.
- Manufacturers' business confidence rose for a fourth consecutive month, though S&P Global economist Joe Hayes warned that high price metrics may embolden a cautious ECB stance.
17 Articles
17 Articles
Euro zone factory growth at more than four-year high in August, PMI shows
Growth in the euro zone's manufacturing sector hit its fastest pace in more than four years in August, driven by the strongest rise in new orders since early 2022 and output expanding at a robust rate, a survey showed.
The euro area industry gained strength in August, with the manufacturing PMI of S&P Global advancing from 51.9 in July to 52.7, the highest level since May 2022. The result signals an acceleration in the recovery of the sector, sustained by the strengthening of demand, increased production and improved business confidence. The industrial production index also advanced, from 52.9 to 53.3, reaching the highest level in 54 months. Exclusive materia…
Global Market: Eurozone manufacturing growth hits four-year high in August
Eurozone manufacturing activity expanded at its fastest pace in more than four years in August, with the PMI rising to 52.7 as new orders and factory output strengthened. Germany led the recovery, while France also expanded, although Italy and Spain remained under pressure. Improving confidence and easing input cost inflation offered further signs of a broader industrial recovery.
Euro zone factory growth at more than four-year high in August
The August PMI report provided the clearest signs yet that the euro zone's industrial economy has so far shaken off both the oil price shock and supply-related disruptions caused by the Middle East war.
Euro zone factory growth at over 4-year high in August
Growth in the euro zone's manufacturing sector hit its fastest pace in more than four years in August, driven by the strongest rise in new orders since early 2022 and output expanding at a robust rate, a new survey shows today.
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