Eurozone Manufacturing Growth At Record High
01 July 2021 - 2:48PM
RTTF2
The euro area manufacturing sector grew at a fresh survey record
pace for a fourth successive month in June as demand surged with
the further relaxation of containment measures, final data from IHS
Markit showed on Thursday.
The final manufacturing Purchasing Managers' Index rose to 63.4
in June from 63.1 in May. The final reading was higher than the
flash 63.1.
June marked a twelfth successive month that the index has posted
above the 50.0 no-change mark that separates growth from
contraction.
Production growth remained elevated in June, edging up slightly
since May. Manufacturers struggled to meet higher sales in June, as
evidenced by a near series record increase in backlogs of work.
The combination of limited supply and strong demand for inputs
underpinned another survey-record increase in input prices. Firms
were also able to raise their own charges.
Overall employment rose at the strongest pace on record.
Finally, confidence about future output edged higher in June
reaching a level that was close to April's survey record.
Germany's manufacturing sector showed an improved performance in
June, with rates of output and new order growth accelerating for
the first time in three months. The headline IHS Markit/BME
manufacturing PMI advanced to 65.1 in June from 66.4 in the
previous month. The flash reading was 64.9.
The French manufacturing sector ended the second quarter with
another strong growth across output, new orders and employment.
Although the manufacturing PMI fell marginally to 59.0 in June from
59.4 in May, the index signaled another substantial growth. The
initial reading was 58.6.
Spain's manufacturing sector grew at the fastest pace since
April 1998. The factory PMI advanced to 60.4 in June from 59.4 in
May. The latest reading was the highest recorded by the survey
since April 1998.
Italy's manufacturing sector expanded at the second-quickest
pace in the survey's 24-year history. The PMI came in at 62.2 in
June, in line with expectations, but slightly up from 62.3 in
May.
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