A gauge of manufacturing in the 16-nation euro region increased to 56.7 from 55.6 in the previous month, London-based Markit Economics said today. That’s a three-month high and above an initial estimate of 56.5 released on July 22. A reading above 50 indicates expansion.
European manufacturers have helped support the region’s recovery by stepping up output to meet global export demand. Volkswagen AG, Europe’s largest carmaker, on July 29 reported its biggest quarterly profit in two years. Still, Chinese manufacturing growth slowed in July and U.S. factory output probably also weakened, suggesting exporters may struggle to maintain their earnings growth.
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