Eurozone Factory Growth Accelerated in January as Bottlenecks Eased: PMI

Eurozone Factory Growth Accelerated in January as Bottlenecks Eased: PMI
Employees work on the assembly line to produce COVID-19 self-test kits at the NG Biotech factory in Guipry-Messac as France experiences a surge in coronavirus disease (COVID-19) cases due to the Omicron variant, France, on Jan. 12, 2022. Stephane Mahe/Reuters
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LONDON—Eurozone manufacturing activity accelerated last month as supply chain bottlenecks eased, although the improvement was not evenly spread across member countries and factories still faced high inflationary pressures, a survey showed on Tuesday.

IHS Markit’s final manufacturing Purchasing Managers’ Index (PMI) rose to a five-month high of 58.7 in January from December’s 58.0, below an initial “flash” estimate of 59.0 but comfortably above the 50 mark separating growth from contraction.