Euro-Area Manufacturing Accelerates as Orders Fuel Optimism
- PMI at 57.4 in June, up from 57 and above flash estimate
- ‘No sign of the impressive performance ending any time soon’
A motor for a Renault Clio automobile sits on the engine assembly line inside 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 expanded at the strongest pace in over six years as factories across the region took on more workers to deal with surging orders.
A Purchasing Managers’ Index climbed to 57.4 in June, up from 57.0 in May and above a June 23 flash estimate, IHS Markit said on Monday. Growth rates improved in most of the surveyed countries, including France and Italy, while a gauge for Greece signaled expansion for the first time since last August.