Euro zone manufacturing activity expands at a record pace in May

01.06.2021 - Kulakov Vladimir
Euro zone manufacturing activity expands at a record pace in May

Euro zone manufacturing activity was seen expanding at a record pace in May, a study suggested on Tuesday, indicating growth would have been even faster without supply bottlenecks that have led to an unprecedented rise in input costs.

Europe’s economy has been badly hit by the coronavirus pandemic crisis in the past year, forcing the services sector to shut down operations. However, factories remained open, and pandemic-triggered restrictions in several countries have gradually been eased.

IHS Markit’s final Manufacturing Purchasing Managers’ Index (PMI) soared to 63.1 in May from a 62.9 reading in April. The recent reading surpassed the initial 62.8 “flash” estimate and the highest reading since the survey began in June 1997.

An index measuring output lowered to 62.2 from the previous 63.2 output. Anything above 50 indicates growth.

A study said that the euro zone was anticipated to bounce back from a double-dip recession this quarter. However, a projected rise in price pressures in 2021 was not seen to be sustainable, with inflation forecast to ease substantially.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?