Final Eurozone PMI (Purchasing Managers’ Index) manufacturing sector data shows the sector started 2010 on a positive footing. The recoveries in production and new orders, which began at the end of Q3 last year, gained further traction in January. Rates of expansion for both variables were also faster than those signalled by their respective flash estimates. France and Germany leading the recovery but Spain and Greece fell further behind. The headline final Eurozone Manufacturing PMI – - a composite index based on measures of production, orders, employment, inventories and supplier performance – - posted 52.4 in January, its highest reading for two years. The index value was above both its earlier flash estimate of 52.0 and the final reading of 51.6 posted in December. The level of the PMI has risen in each month since hitting a record low last February and has now remained above the neutral 50.0 mark for four consecutive months.
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- Eurozone Manufacturing PMI at highest level since August 2007; Germany accelerated while Spain, Ireland and Greece fell
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- Eurozone manufacturing rose to four-month high in November; Stronger growth in Germany/ France – - falls in Spain/ Greece
- Eurozone service sector recovery led by France and Germany in August; Activity rose in Italy and Ireland but Spain fell back into contraction
- Germany leads Eurozone manufacturing’s best start to year since 2000: Greece contracts and Spain stagnates