Manufacturing across europe continues steady growth
Europe’s manufacturing industry continued to show postive signs of growth in most regions during April, but China’s factory sector lost momentum.
Output in Britain’s manufacturing industry jumped to a three-year high as new orders charged ahead on strong domestic and overseas demand.
The Markit/CIPS UK Manufacturing purchasing managers’ index (PMI) showed a reading of 57.3 last month, up from a four-month low of 54.2 in March and above economists’ expectations of 54.
A reading above 50 indicates growth.
Business confidence among British manufacturers was robust in April, with UK markets driving the strongest inflows of new work since January 2014.
The industry was also enjoying an exports boost from the Brexit-hit pound and the gathering strength of the global economy and the eurozone.
In Germany, manufacturing activity held near a six-year high at the start of the second quarter, suggesting factories will continue to support economic growth in Europe’s biggest economy.