Eurozone manufacturing rebounds as S&P Global PMI rises to 52.7
Business
Eurozone factories are picking up speed again. Manufacturing activity hit its highest point in more than four years this August.
The S&P Global PMI climbed to 52.7, signaling steady growth thanks to a wave of new orders and stronger factory output.
New orders strongest since early 2022
New orders surged to their strongest level since early 2022, and exports got a lift too, especially from Austria, Germany, and the Netherlands.
Factory output reached a 54-month high, mainly in chemicals and electronics.
Even with high energy costs and some price pressures sticking around, business confidence is up for the fourth straight month, so manufacturers seem pretty optimistic about what's next.