Final Eurozone manufacturing in September is 53.7, up from August’s 51.7, the strongest for over two years, according to press release. Growth contributed by robust Germany’s manufacturing activity due to strengthening investment goods demand.
- Optimism grew in Germany, France, Italy, Spain, and Austria, the highest since April 2018.
- Without broad-based recovery, uptown sustainability is at risk amidst the growing concerns of rising COVID-19 infections.
- Spain recorded modest growths, but slowdowns in Italy and Austria, while Ireland worried about a return to contraction.
- New orders up from 55.4 to 57.0, due to export trade resurgence, the 3rdmonth of expansion, and highest since February 2018.
- Substantial gains in consumer and intermediate goods, but lags in investment goods
- Job losses ease as firms expanded and optimism returning to the highs before trade war in early 2018
- Little price changes but input costs marginally higher overall
- Purchase stocks and finished goods inventory declined with the warehouse inventory dropping most since the start of 2010.
Euro responding favorably to the strengthening manufacturing activity. EURUSD is up 0.09%
