The headline Eurozone Manufacturing PMI reached 62.5 in March, up from February’s 57.9 reading, according to IHS Markit press release. The growth was fueled by improving operating conditions which hit the highest level in almost 24 years.
The headline Eurozone PMI was boosted by rises in output and new orders in March
Strengthening demand and increasing confidence about future economic conditions also contributed to record rises in production and output.
All the three market groups recorded month-on-month strengthening of operating conditions and growth rates.
Germany and the Netherlands led growth, recording their highest ever PMI levels in March.
Ireland saw growth hit an eight-month high, while Spain had its best performance since late 2006
Greece recorded modest growth, despite having the best PMI reading for over a year.
Unprecedented supply-side delays led to the sharpest rise in input costs for a decade.
European stocks and the Euro are currently gaining. DAX is up 0.33%, EURUSD is up 0.06%
