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7/1/2021, 10:00 AM (Source: TeleTrader)
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Euro area's manufacturing PMI rises to 63.4 in June

The manufacturing sector activity in the Eurozone increased in June with the Purchasing Managers Index (PMI) landing at 63.4, the IHS Markit said in its final report released on Thursday. The figure was revised up by 0.3 percentage points compared to the flash estimate, to surpass the analysts' expectations and set a new record high.

Growth was measured across all three broad market groups within the manufacturing sector, including consumer, intermediate, and investment goods, with investment goods recording the sharpest rise. Netherlands, Austria, and Germany led the euro area's growth with the countries' PMI figures reaching 68.8, 67.0, and 65.1, respectively.

"Eurozone manufacturing continued to grow at a rate unbeaten in almost 24 years of survey history in June as demand surged with the further relaxation of COVID-19 containment measures and vaccination progress drove renewed optimism about the future," Chief Business Economist at IHS Markit Chris Williamson commented on the survey.

Baha Breaking News (BBN) / BU