The Eurozone sees its biggest recorded manufacturing boom

JAN WOITAS

A file photo dated 03 November 2015 showing an aerial view of a parking lot filled with new Porsche cars, on the grounds of the Porsche manufacturing plant in Leipzig, Germany.

The Eurozone sees its biggest recorded manufacturing boom


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The Euro zone’s manufacturing Purchasing Managers Index (PMI) saw its biggest surge (60,6) since the survey began in 1997, Reuters reports.

  “The euro zone manufacturing boom gained further momentum in December, rounding off the best year on record and setting the scene for a strong start to 2018,” the chief business economist at IHS Markit Chris Williamson.

Williamson also noted that job creation also maintains record pace.

Although inflation in the Eurozone remained subdued to 1,5% in November – well below the 2% target of the European Central Bank – Frankfurt is expected to scale down its quantitative easing programme. In January 2018 the ECB is expected to scale down its asset-buying programme to €30bn a month.

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