The manufacturing sector in the eurozone rose for the first time in 17 months during October, to a level of new orders was not reached in more than two years.
Markit's index of purchasing managers in the euro zone rose to 50.7 in October from 49.3 in September. That figure was in line with an advance estimate and analysts' forecasts, so it caused no major reactions in the markets.
This is the first time the index is placed above the 50.0 points that divide the growth from contraction since May 2008, posted its best level since April 2008, when it stood at 50,7.
"Today's data suggest that the eurozone recovery is beginning to gain pace (...) We remain cautious about the economic outlook for the coming months," said Colin Ellis at Daiwa Securities.
The new orders index rose to a maximum of 26 months from 53.7, an improvement from the September record of 52.5, while production reached levels not seen since early last year.
However, there was divergence between the four large euro zone economies, Germany and France growing at reasonable levels, while Spain and Italy continue to show weakness.
No hay comentarios:
Publicar un comentario