Eurozone Manufacturing Accelerates at Fastest Rate in Nearly Three Years

Euro zone manufacturing activity accelerated at its fastest rate in nearly three years last month, supported by a buoyant performance from Germany, while inflationary pressures showed further signs of recovery, a survey found on Wednesday.

The findings will make welcome reading for policymakers at the European Central Bank, who have struggled to get growth and inflation up despite years of ultra-loose monetary policy.

Markit’s final Purchasing Managers’ Index (PMI) jumped to a 33-month high of 53.5 from September’s 52.6, ahead of the preliminary flash reading of 53.3 and above the 50-mark that separates growth from contraction.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.