Eurozone manufacturing grows strongly in January

Porsche cars ready for export Eurozone manufacturing activity is at its strongest since mid-2011

Related Stories

Eurozone manufacturing grew strongly in January on the back of new orders, a closely-watched business survey suggests, with Germany leading the way.

Markit's Eurozone Manufacturing Purchasing Managers' Index (PMI) rose to 54 in January, its strongest month since May 2011 - a figure above 50 indicates growth.

This compares to December's figure of 52.7 and reflects the overall pickup in eurozone economic activity.

But France failed to break the 50 mark.

"The eurozone manufacturing recovery gained significant further momentum in January, with final PMI readings for Germany, France and the region as a whole all exceeding the earlier flash estimates," said Chris Williamson, Markit's chief economist.

Germany's manufacturing PMI rose to a 32-month peak, said Markit, while France's rate of contraction slowed, but it still failed to move into growth territory.

Greece's PMI was 51.2 - the first time it has been above 50 since 2009 - joining Italy, Spain, the Netherlands, Austria and Ireland in the growth stakes.

All the countries in the survey reported an increase in exports.

New orders across the 18-country region rose at their fastest pace for nearly three years, Markit said, encouraging manufacturers to take on new staff.

As a result, the employment index rose from 49.9 to 51 in January - the first time it has moved into positive territory for two years.

Despite this, eurozone unemployment remains stubbornly high at 12%.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • Prostitute in red light district in Seoul, South KoreaSex for soldiers

    Did Korea encourage prostitutes near US military bases?


  • LuckyDumped

    Why times are bad for India's professional rubbish collectors


  • A Hindu worshipper slaughters buffalo at the Gadhimai festival in NepalIn pictures

    Hindu worshippers flock to Nepal for controversial sacrifice festival


  • Walmart employees and supporters block off a major intersection near the Walton Family Foundation to stage a protest calling for $15 an hour and consistent full-time work in downtown Washington October 16, 2014. Black mark

    Wal-Mart workers revolt against the annual shopping bonanza


From BBC Capital

Programmes

  • All-inclusive holidaysThe Travel Show Watch

    With all-inclusive holidays seeing a resurgence are local trades missing out to big resorts?

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.