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Eurozone manufacturing activity hits 26-month high

  • Eurozone manufacturing PMI rises to a 26-month high of 51.4 in August (flash 51.3) from 50.3 in July.
  • Upturn broad-based, with PMIs rising in all countries except France.
  • Greece PMI of 48.7 a 44-month high.
  • Manufacturing in Germany, the Netherlands, Austria, Spain and Italy fastest for at least two years
  • "Companies reported the strongest improvement in business conditions for just over two years, with a pick up in new-orders growth suggesting the upturn will be sustained into September," says Markit.
  • However, companies remain reluctant to take on staff, suggesting "that there’s a long way to go before the recovery feeds through to a meaningful job market improvement." (PR)
  • Euro flat vs dollar. EU Stoxx 50 +1.5%.
  • ETFs - Stocks: EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, EPV, DFE, FEU, FEEU. Bonds: EU. Euro: FXE, ERO, ULE, URR, EUO, DRR, EUFX
Comments (1)
  • Wiseman1
    , contributor
    Comments (193) | Send Message
     
    Go europe
    2 Sep 2013, 05:19 PM Reply Like
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