Euro-area manufacturing expanded at the strongest pace in over six years as factories across the region took on more workers to deal with surging orders.
A Purchasing Managers’ Index climbed to 57.4 in June, up from 57.0 in May and above a June 23 flash estimate, IHS Markit said on Monday. Growth rates improved in most of the surveyed countries, including France and Italy, while a gauge for Greece signaled expansion for the first time since last August.
“There’s no sign of the impressive performance ending any time soon,” said Chris Williamson, chief business economist at IHS Markit. “Optimism about the year ahead has risen to the highest for at least five years, backlogs of orders are building up at the fastest rate for over seven years and factories are reporting near-record hiring as they struggle to deal with the upturn in demand.”