The euro area manufacturing sector grew at the fastest pace in over six-and-a-half years in September with the rate of job creation reaching a record high in the history of the survey.
The final manufacturing Purchasing Managers' Index climbed to 58.1 in September from 57.4 in August. This marked a 79-month high and a rise in activity for the 51 month in a row. The flash score was 58.2.
The PMI’s average reading for the third quarter was the largest since the first quarter of 2011.
Germany’s manufacturing PMI jumped to 60.6 from 59.3 in August. France’s factory PMI advanced to 56.1 in September from 55.8 in August, which was the highest since April 2011.
Italy’s manufacturing activity was unchanged with the corresponding index resting at the six-and-a-half year high of 56.3.
With the eurozone economy set to show the highest growth over a decade and unemployment falling, the ECB has not been able to achieve sustained inflation growth of less than 2%. Mario Draghi is widely expected to taper its QE program in January, but is unlikely to raise rates until Q4 2018.
