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Eurozone Output Expands For 11th Straight Quarter to Carve Record High

June 1, 2021 by Forex Winner Leave a Comment

Eurozone Output Expands For 11th Straight Quarter to Carve Record High

The Eurozone factory output soared to a record high in May as operating conditions improved during the month, according to IHS Markit.

Eurozone manufacturing PMI
  • The headline PMI climbed to 63.1, the highest reading in the survey history data dating back to June 1997.
  • This compares with 62.9 in April, and marks the 11th straight month of expansion after falling above the 50.0 threshold that separates expansion from contraction.
  • Investment goods producers posted the strongest growth among all market groups, along with intermediate and consumer goods which both recorded an expansion.
  • The growth of the manufacturing output decelerated to the slowest in three months, due to supply delays.
  • Firms remained confident about the future, but eased to the lowest level in four months.
  • Optimism is driven by potential opportunities as economies reopen and restrictions are eased.
  • Chief Business Economist Chris Williamson believes demand will shift from goods to services as more economies recover.

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