Eurozone manufacturing recovery broad-based

|By:, SA News Editor

Eurozone manufacturing PMI edged up to 51.3 (unchanged from flash) in October from 51.1 in September.

The "modest and fragile recovery continues and remains broad-based, with growth seen in all nations bar France and Greece," says Markit.

"While the survey was signalling a 2-3% annual rate of decline in industrial production earlier in the year, a 2-3% rate of expansion is now being indicated," Markit adds.

Increasingly "robust gains" in production in countries such as Spain, Italy and Ireland "suggest that structural reforms to boost competitiveness are starting to pay off."

The euro is +0.1% at $1.351. (PR)

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