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Manufacturing index for eurozone reached 32-month high

Feb. 3, 2014 at 11:05 AM

BRUSSELS, Feb. 3 (UPI) -- Manufacturing activity in the eurozone climbed to a 32-month high in January, with expansion led by Germany, Markit Economics said Monday.

Markit said the purchasing managers index for manufacturing reached 54, up from 52.7 in December.

The index uses 50 percent as the break-even point that stands between growth and contraction.

Markit said fresh orders for manufacturers rose, as did the index measuring the backlog of orders for goods-producing businesses.

In Greece, the PMI was 51.2 a 65-month high.

The index for Germany, like the eurozone, reached a 32-month high, rising to 56.5. The index for France, which behind Germany represents the second largest economy in Europe, rose to 49.3, a four-month high.

Markit said the PMI for the Netherlands slipped to a three-month low at 54.8. In Italy and Ireland, the index hit two-month lows at 53.1 and 52.8, respectively.

In Spain, the index reached a 45-month high at 52.2.

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