Eurozone manufacturing grew strongly in January on the back of new orders, a closely-watched business survey suggests, with Germany leading the way.
Markit’s Eurozone Manufacturing Purchasing Managers’ Index (PMI) rose to 54 in January, its strongest month since May 2011 – a figure above 50 indicates growth.
This compares to December’s figure of 52.7 and reflects the overall pickup in eurozone economic activity.
But France failed to break the 50 mark.
“The eurozone manufacturing recovery gained significant further momentum in January, with final PMI readings for Germany, France and the region as a whole all exceeding the earlier flash estimates,” said Chris Williamson, Markit’s chief economist.
Germany’s manufacturing PMI rose to a 32-month peak, said Markit, while France’s rate of contraction slowed, but it still failed to move into growth territory.
Greece’s PMI was 51.2 – the first time it has been above 50 since 2009 – joining Italy, Spain, the Netherlands, Austria and Ireland in the growth stakes.
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