Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Euro zone factories ended 2017 with record high growth - PMI

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/02/2018 | 10:03am CEST

LONDON (Reuters) - 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.

"The euro zone manufacturing boom gained further momentum in December, rounding off the best year on record and setting the scene for a strong start to 2018," said Chris Williamson, chief business economist at IHS Markit.

"Forward-looking indicators bode well for the new year: new orders rose at a near-record pace, while purchasing growth hit a new peak as firms readied themselves for higher production. Meanwhile, job creation was maintained at November's record pace."

Despite factories raising prices again last month, albeit at a slightly weaker rate than in November, an index measuring new orders nudged up to 61.5 from 61.4, a level not seen since around the start of the century.

Inflation was 1.5 percent in November, below the ECB's 2 percent target ceiling, but the central bank announced in October it will halve its monthly asset purchases to 30 billion euros from January.

A majority of economists in a Reuters poll last year said they thought the ECB should shut the door on the programme in September, but they were split on whether it actually would.

((Editing by Hugh Lawson))

By Jonathan Cable

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
09:50aChina says must balance stable growth and risk prevention
RE
09:48aCONGRESS OF PHILIPPINES : House approves bill granting survivorship benefits to children of deceased retired heads of COA, CSC, Comelec, Ombudsman
PU
09:14aOman Oil sells 10 percent stake in Al Khazzan field to Petronas - ONA
RE
09:13aARAB PLANNING INSTITUTE : API organized a Training Program, Republic of Iraq
PU
08:38aU.S. Treasury's Mnuchin hails Israel investment opportunities, eyes infrastructure
RE
08:12aIndonesia to renegotiate fighter jet deal with South Korea to ease forex burden
RE
01:19aUK firms near point of no return for Brexit contingency plans, CBI warns
RE
10/20PRESIDENCY OF REPUBLIC OF TURKEY : “Our priority is to reinvigorate production, exports and employment”
PU
10/20QUANTZIG : Predicts the Future of Bitcoin - Proclaims It a Gamble
BU
10/20EXCLUSIVE : CrowdStrike hires Goldman Sachs to lead IPO - sources
RE
Latest news "Economy & Forex"
Advertisement