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

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam