Eurozone gets a lift from factory sector growth

first_imgMonday 2 February 2015 8:29 pm whatsapp Share Show Comments ▼ A SPARK of good news emerged from the Eurozone’s manufacturers yesterday, while separate data from the UK showed British factories enjoying economic growth.The latest purchasing managers’ index (PMI), compiled by Markit, showed that the Eurozone manufacturing sector’s rate of growth rose by 0.4 percentage points in January, to 51. Any figure above 50 indicates growth. The PMI improved to a six-month high in January, from 50.6 in December and 50.1 in November. The UK’s manufacturing PMI climbed to 53 from December’s 52.7. It was boosted by growth in output and new orders.Disappointingly, increased growth in Spain, the Netherlands and Germany was offset by miserable stats from Greece, where the sector’s rate of contraction accelerated from 49.3 to 48.3 points, a 15-month low.Howard Archer, an economist at IHS Global Insight, said we could be seeing the effects of low oil prices and a depleted euro.“This suggests that very low oil prices and the markedly weaker euro may just be starting to feed through to help Eurozone manufacturers, although there is still a long way to go before the sector is out of the woods. Furthermore, the European Central Bank’s stimulative measures should increasingly help matters, notably including the substantial quantitative easing programme [unveiled in January],” Archer said. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldGive It LoveRemember These Rare Sisters? See Them NowGive It Lovezenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorTheFashionBallAlica Schmidt Is The Most Beautiful Athlete To ExistTheFashionBall center_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: whatsapp Express KCS Eurozone gets a lift from factory sector growth Tags: Eurozonelast_img

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