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Eurozone PMI rises to quarterly highest level in two-and-a-half years

English.news.cn   2013-12-16 20:45:22            

BRUSSELS, Dec. 16 (Xinhua) -- The eurozone's Purchasing Managers Index (PMI) is estimated to rose to 52.1 in December, suggesting the best quarterly performance of manufacturing and services sectors for two-and-a-half years, the Markit's report showed on Monday.

The report noted that the upturn brings the rate of growth close to the 27-month peak seen in September and marks a reversal of the easing in the rate of growth seen over the prior two months. A PMI reading of 50 points or greater indicates expansion.

Growth of new orders also accelerated, showing the biggest jump in demand for goods and services since June 2011.

The manufacturing PMI, rising for the sixth successive month to 52.7,the highest since April 2011 ,led the upturn. New orders at goods producers likewise rose for a sixth month, also showing the fastest expansion since April 2011.

Order book growth was fueled by rising exports, growth of which continued to run at the fastest clip since early-2011.

Among the member states,Germany continued to record a rate of expansion not seen since the first half of 2011. Output grew for an eighth successive month, at a rate little-changed from November's 29-month high.

Chris Williamson, chief economist at Markit, commented on the latest data, "The rise in the PMI after two successive monthly falls is a big relief and puts the recovery back on track. The upturn means that, over the final quarter, businesses saw the strongest growth since the first half of 2011, and have now enjoyed two consecutive quarters of growth."

He also warned of "uneven for the upward", saying "Growth is concentrated in manufacturing, where rising exports have helped push growth of the sector to the fastest for two-and-a-half years, while weak domestic demand led to a further slowing in service sector growth."

Related:

Eurozone PMI reaches 26-month high as business recovery continues

BRUSSELS, Sept. 4 (Xinhua) -- The eurozone's Purchasing Managers Index (PMI) rose to 51.5 in August, its highest level since June 2011, financial information services company Markit reported Wednesday.

It was up from 50.5 in July, its fifth consecutive monthly improvement and second straight month above 50, indicating ongoing growth in business activity. A PMI reading of 50 points or greater indicates expansion. Full story

Editor: Yang Yi
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