IHS Markit Purchasing Managers' Index rose by 3.1 points to 57.9 points in February
The mood in industrial companies in the eurozone continues to brighten despite the corona crisis. The purchasing managers index of the research company IHS Markit rose in February by 3.1 points to 57.9 points, as Markit announced after a second survey round. It is the highest value of the survey-based indicator in three years. An initial estimate has been revised slightly upwards.
Markit chief economist Chris Williamson commented that the industry is becoming more and more a bright spot in the euro zone. The indicator has been well above the growth limit of 50 points for several months. According to Markit, sentiment has brightened in all eurozone countries except Greece. Companies are currently benefiting from strong domestic and export demand, Williamson said. The reason is the hope for an economic improvement with progressive corona vaccinations.
The solid growth of the industrial sector is helping to offset the ongoing Corona weakness in many consumer-oriented industries, Williamson said. This would mitigate the effects of the latest corona measures in many countries. For a long time now, trade and service providers have been much more affected by the restrictions of public life than industry.
