Euro Area Sees Price Gains as Manufacturing Picks Up Pace
- Factory PMI gauge rises to 54.9, in line with median estimate
- IHS Markit says outlook improved, price pressures are building
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Euro-area manufacturing expanded last month at the fastest rate since April 2011, in a sign that the currency bloc’s recovery is intact heading into 2017.
A Purchasing Managers’ Index climbed to 54.9 in December, IHS Markit said on Monday. The reading matches the initial estimate on Dec. 15 and was up from 53.7 in November. Higher import costs resulting from a weaker euro, combined with increased global commodity prices, led to the sharpest inflation for average purchasing costs in more than five-and-a-half years.