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Eurozone Manufacturing Growth Hits Six Year High

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Euro-area factories expanded output at the fastest pace since 2011 as the currency bloc’s economy continued to gather momentum.

A gauge of manufacturing activity rose to 56.7 in April from 56.2 the previous month, IHS Markit reported on Tuesday. An April 21 preliminary estimate was for an increase to 56.8.

With the European Central Bank showing little hurry to end extraordinary stimulus, global trade strengthening and political risk receding as centrist Emmanuel Macron looks poised to become the next French president, the currency bloc’s recovery is set to broaden. Data on Wednesday will show gross domestic product gained 0.5 percent in the first quarter, according to a Bloomberg survey.

Bloomberg

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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