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- Eurozone: Manufacturing PMI above estimates at 10-month high
Eurozone: Manufacturing PMI above estimates at 10-month high
Final data on Eurozone's, French and German Manufacturing for March was reported today.
The French Manufacturing PMI rose above estimates of 48.2 with reading to 48.8 compared to a previous reading of 47.6 - still remaining in negative territory as a reading below 50 indicates contraction.
German Manufacturing PMI came in above estimates of 52.4 at 52.8 from 51.1 in February.
Data for the Eurozone Manufacturing PMI came in with a reading above estimates at 52.2, beating estimates of 51.9 and February's 51 - the highest reading in 10 months.
The data shows that the ECB's quantitative easing starts to fuel Europe's economy and that the recovery is gaining pace. Lower energy prices and a weaker euro also have positive effects.
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