Manufacturing in the Euro Area Is Showing Signs of Recovery

The euro zone purchasing managers' index, released by market research agency IHS Markit, edged up 0.1 to 51.7 in August, above the 50-year mark. IHS Markit chief economist William Williamson said the data showed that manufacturing in the euro area was recovering, but the sustainability of the recovery would depend on data performance in the coming months. Germany, the euro zone's manufacturing leader, also rose 1.2 points in August to 52.2, its highest level in two years. According to the analysis, German manufacturing is currently undergoing a relatively strong recovery process. At the same time, orders that have been shelved and delayed by the outbreak have led to a wave of intensive order growth for German manufacturers.