Euro-Area Manufacturing Picks Up as Inflation Pressures Build
- Purchasing Managers’ Index climbs to 55.4 from 55.2; est. 55.5
- Companies’ economic outlook remains favorable, IHS Markit says
An employee hand spray paints the body shell of a Nissan Micra automobile at the Renault SA factory in Flins, France, on Thursday, Feb. 23, 2017. Carlos Ghosn, one of the auto industry's most celebrated turnaround artists, is relinquishing his CEO role at Nissan Motor Co. and turning over day-to-day control to Hiroto Saikawa as he focuses on strengthening the carmaker's alliance with Renault and Mitsubishi Motors Corp.
Photographer: Marlene Awaad/BloombergEuro-area manufacturing accelerated for a sixth month in February amid signs that inflation pressures may be starting to build as factories struggle to keep up with demand.
A Purchasing Managers’ Index climbed to 55.4, IHS Markit said on Wednesday. The reading compares with a flash estimate of 55.5 and is up from 55.2 in January. Companies raised output charges at the fastest pace in more than five years as higher commodity prices and a weaker euro drove up costs, while suppliers took longer to fill orders, the London-based company said.