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Weaker currency boosts eurozone manufacturing

Eurozone

A survey showed yesterday that manufacturing activity across the eurozone is growing faster than expected, with help from the weaker euro. According to the purchasing managers' index compiled by Markit, German and Italian production expanded at the highest rate for almost a year, while the contraction in France has eased. The final March manufacturing PMI was at a ten-month high of 52.2, beating a flash reading of 51.9 and marking the 21st month it has been above the 50 mark separating growth from contraction. The figures will be seen as an early sign of the success of the European Central Bank's decision to begin a programme of quantitative easing last month.

 

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