Economics
Germany Helps Euro-Area Factories to Best Growth in Two Years
- Sharp pickup in trade pulls global economy out of slump
- Euro-area companies continue job cuts due to uncertain outlook
Workers fit seats to a Volkswagen AG ID.3 electric vehicle on the assembly line at company’s factory in Zwickau, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Manufacturing in the euro zone expanded at the fastest pace in more than two years thanks to a strong upturn in Germany, with a sharp pickup in trade helping to pull the economy out of the coronavirus recession.
While Asia’s factories displayed fitful progress in September, the euro area saw output, new orders and confidence in business prospects all improve, according to an IHS Markit survey. At the same time, companies in the region continued to cut jobs -- the latest sign that they remain skeptical that the current pace of recovery can be maintained.