Econintersect: Manufacturing in the Eurozone continued to gain strength in April and expansion was recorded in all countries measured. The index for April was higher than either February of March, although France, Spain and the Nehterlands saw declines from March. The highlighs from Markit:
- Final Eurozone Manufacturing PMI at 53.4 in April (flash estimate: 53.3)
- Output and new order growth recorded in all nations covered
- Input and output prices fall further
Click on graph for larger image.
Chris Williamson, Chief Economist at markit issued an longer statement than usual:
Philip Shaw at Investec was quoted by Reuters:
“Recent economic evidence remains consistent with the European Central Bank’s baseline scenario which is that of a gradual recovery. There are concerns about the confidence in France and the extent to which that could restrain economic growth this year and next.”
Howard Archer from IHS Global Insight was more sanguine (also from Reuters):
“Improved manufacturing activity in April suggests that euro zone economic recovery is continuing to gradually firm following likely modestly improved GDP growth in the first quarter.”
John
Sources:
- Markit Eurozone Manufacturing PMI® – final data (News Release, Markit, 02 May 2014)
- Euro zone factory recovery broadens, except for France (Jonathan Cable, Reuters, 02 May 2014)
