Eurozone Manufacturing Goes From Strength to Strength

August 23, 2017 Share Print 0

Surging demand for ‘Made in the Euro Area’ goods is feeding an economy that is creating jobs and finally also seeing price growth accelerate.A Purchasing Managers’ Index for manufacturing rose to 57.4 in August from 56.6 in July, according to IHS Markit. That’s the highest reading in two months and compares with a median estimate for a slowdown in activity. Momentum in services unexpectedly cooled to a seven-month low.The 19-nation euro economy gathered pace in the second quarter as more countries joined the recovery. Steadily declining unemployment and business confidence at a decade high are feeding confidence that inflation — still well below the European Central Bank’s goal — will eventually pick up on a sustained basis.

Source: Euro-Area Factories Feed Best Growth Spell for Economy in Years – Bloomberg

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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.