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Eurozone Manufacturers End 2017 on a High

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Euro zone manufacturers ended 2017 by ramping up activity at the fastest pace in more than two decades, a survey showed on Tuesday, and rising demand suggests they will start the new year on a high.The bloc’s economy outpaced its peers last year, and the European Central Bank plans to scale back its stimulus programme from this month. IHS Markit’s December final manufacturing Purchasing Managers’ Index for the bloc was 60.6, matching an earlier preliminary reading and above November’s 60.1. That was the highest since the survey began in June 1997.An index measuring output, which feeds into a composite PMI due on Thursday and seen as a good guide to economic health, rose to 62.2 from November’s 61.0 – its highest in over 17 years and has only been above that once in the survey’s history.

Source: Euro zone factories ended 2017 with record high growth – CNBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
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 Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. 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.
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