Eurozone Manufacturing PMI fell to 54.8 in January, slightly below December’s 55.2, according to the IHS Markit press release. January’s PMI was a seventh successive month of expansion and among the highest seen over the past two-and-a-half years.
- Eurozone recorded growth across all the broad market groups, although the improvement in the consumer goods was marginal.
- Netherlands led the manufacturing as it marked the sharpest expansion in over two years, followed by Germany, with only Spain recording a contraction.
- Manufacturing companies faced capacity pressures as the backlog orders grew in January.
- Supplier delivery times deteriorated for a twelfth successive month, which pushed input prices higher.
- Overall business confidence for the next 12 months improved to a three-year high on hopes of vaccine developments and easing of pandemic restrictions.
European stocks are currently gaining as the Euro loses. DAX is up 1.42%, EURUSD is down 0.41%