Euro zone factory activity growth surged to a record high in April, boosted by burgeoning demand and driving a rise in hiring, although supply constraints led to an unprecedented rise in unfulfilled orders, a survey showed. An index measuring output, which feeds into a composite PMI due on Wednesday and that is seen as a good guide to economic health, edged down from March’s record high of 63.3 to 63.2. “The euro zone was late out of the gates in terms of its economic rebound but it does seem to be starting. “It is a foregone conclusion that Q2 will be much stronger than Q1 was.”The backlogs of work index soared to 61.5 from 60.4, a survey high. Its latest PMI was only just below March’s high at 66.4.

Source: The Irish Times May 03, 2021 09:33 UTC