3psmars

Thursday 21.11

°C
HomeExplore3PSMARS AnalyticsReading

Weak euro boosts eurozone manufacturing, says PMI survey

Manufacturing and jobs are picking up in the eurozone thanks to the weaker euro, according to a survey.

Markit’s purchasing managers’ index (PMI) for the manufacturing sector rose to a 10-month high of 52.2 in March as eurozone factories benefited from the weaker currency.

It is the 23rd consecutive month that the index has been over 50, indicating growth rather than contraction.

Companies created jobs at the quickest pace for three and a half years.

“March saw the sharpest increase in new export orders since April 2014. Companies reported that the weaker euro was the main factor driving new export orders higher,” said Chris Williamson, Markit’s chief economist.

“This is still a fledgling recovery, however, and the overall rate of expansion remains only modest.”

Ireland and Spain led the board with PMI figures of 56.8 and 54.3 respectively, while growth also improved in Germany, Italy and the Netherlands.

But PMI readings in France, Greece and Austria remained below 50.

The euro has fallen nearly 12% since January due to the expectation and then implementation of the European Central Bank’s policy of increasing the money supply through quantitative easing.

Culled from; BBC News

1st April, 2015.



Related Content

People's Parliament

2/22/2016

Bees can boost food security of two billion small farmers

Bees can help boost food security of two billion small farmers at no cost – UN The United Nations Food and Agriculture Organization (FAO) today highlighted the publication of a new study that quantifies, for the first time, how much crop yields depend on the work of bees that unknowingly fertilize plants as they move from flower to flower.

3PSMars Admin