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Output grows slightly in eurozone
By Jonathan Cable |
March 2, 2010, Tuesday
|
Print Edition
Print Edition
MANUFACTURING activity in the eurozone grew slightly faster than thought last month but Spain and Greece continued to lag far behind the bloc's big three economies, a survey showed yesterday.
The Markit Eurozone Manufacturing Purchasing Managers' Index for February jumped to 54.2 from 52.4 in January, rising from an estimate of 54.1 late last month.
This is the fifth consecutive month the index has been above the 50.0 mark that divides growth from contraction and is its highest reading since August 2007. The output index notched up a near three-year high, rising to 57.0 from January's 56.0.
But markets were little moved on the release.
Earlier data from Germany, the 16-nation bloc's biggest economy, showed activity there expanded at its fastest pace in 32 months while in Italy the PMI was just shy of January's 28-month high. French PMI slipped to 54.
The Markit Eurozone Manufacturing Purchasing Managers' Index for February jumped to 54.2 from 52.4 in January, rising from an estimate of 54.1 late last month.
This is the fifth consecutive month the index has been above the 50.0 mark that divides growth from contraction and is its highest reading since August 2007. The output index notched up a near three-year high, rising to 57.0 from January's 56.0.
But markets were little moved on the release.
Earlier data from Germany, the 16-nation bloc's biggest economy, showed activity there expanded at its fastest pace in 32 months while in Italy the PMI was just shy of January's 28-month high. French PMI slipped to 54.
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