Eurozone Manufacturing Hits Five-Month High

Source: IHS Markit

Eurozone manufacturing grew to the highest level in five months in January, as production, new orders, and employment climbed at a faster level during the month. EZU is up 0.68%.

• The eurozone manufacturing PMI stood at 58.7 in January, faster than December’s 58.0. This is the highest level since August 2021.
• Output expanded for the nineteenth straight month to hit the fastest since September 2021, with demand conditions posting an improvement.
• New orders increased at the fastest pace in four months, with new export growth recording slight growth over the month.
• Job creation was the quickest since August 2021, and among the fastest in over the 24 years of data collection.
• Input price inflation fell to a nine-month low, while output price inflation hit the second-fastest on record behind only November 2021.
• The fastest growth was recorded in Austria, followed by the Netherlands, Germany, Ireland, Italy, Greece, Spain, and France.