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Eurozone manufacturing PMI hits 69-month high at start of 2017

Staff Writer |
The start of 2017 saw a marked improvement in business conditions at eurozone manufacturers.

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Output growth held steady at December’s 32-month record, underpinned by the strongest inflows of new business and the fastest job creation since the first half of 2011.

Price pressures continued to intensify, however, with rates of inflation in input costs and output charges both gathering pace.

At 55.2 in January, up from 54.9 in December, the final Markit Eurozone Manufacturing PMIrose to a 69-month high and was above its earlier flash estimate of 55.1.

The headline PMI has signalled expansion in each month since July 2013.

National PMI data signalled that growth was fastest in Austria, the Netherlands and Germany.

The rate of improvement in business conditions hit a 70-month record in Austria, a three-year high in Germany and remained elevated in the Netherlands despite easing to a three-month low.

Strong growth was also signalled in Spain (20-month high) and Ireland (2- month low).

The recent improved performance of France continued to gather pace, as highlighted by the French PMI rising to a 68-month high.

In contrast, the downturn in Greece accelerated.

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