Global Factory Growth Recovers Except in Europe

Increasing demand for manufactured goods drove global factory activity higher last month but the spurt in the euro zone masked a widening disparity among some of the bloc’s key members.

As year-end approaches, the global economy is showing signs of a more solid recovery, with encouraging signs from some economies, particularly Britain, of an acceleration.

But growth in Europe’s 17-nation currency union remains weak and Markit, compiler of the monthly Purchasing Managers’ Indexes, said on Monday that there was evidence of a renewed downturn in France and Spain.

Markit’s Eurozone Manufacturing PMI rose to 51.6 last month from October’s 51.3, a two-year high, just pipping an earlier flash reading of 51.5, and the fifth consecutive month showing growth. The output index nudged up to 53.1 from 52.9.

via Reuters

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