According to IHS Markit, the eurozone purchasing managers’ index rose to 57.4 in June 2017 from 57 in the previous month. The index reflects a significant improvement in operating conditions in the manufacturing sector in 19 eurozone countries over the past 74 months. The PMI indicated the expansion of the industry’s activity in the last four years.
As a result, the growth of activity in the euro area’s manufacturing sector in the second quarter was at the highest level in more than six years.
Analysts note that a significant increase in the manufacturing activity will persist in the near future.
A similar indicator for the German manufacturing sector was 59.6 compared to 59.5 in May. This marked the biggest improvement since April 2011.
France’s PMI grew to 54.8 from 53.8 in May. The score was only just shy of April's six-year high. Italy’s manufacturing PMI rose to 55.2 from 55.1 in May.
Meanwhile, the Spanish factory PMI dropped to 54.7 from May’s reading of 55.4.
The factory PMI in Greece rose to 50.5 from 49.6. The PMI showed expansion of the country’s manufacturing activity for the first time since August 2016.
