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September was fine for Euro zone's industry
 The Markit index thus reached the highest level in more than two years 01.Oct.20 11:06 AM By Abigail Richards Photo toinnov.com |
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Activity in euro area industry increased in September compared to August. The British market researcher Markit announced this on the basis of definitive figures. The Markit Purchasing Manager Index, which measures industrial activity, reached a final position of 53.7 before September, compared with 51.7 in August. That's consistent with an earlier estimate. A position of 50 or more indicates growth, below it indicates shrinkage. The Markit gauge thus reached the highest level in more than two years. Earlier this year, the coronacrisis saw a sharp contraction of industry in the euro area, for example because factories had to close down because of the virus outbreak and supply chain disruptions. In particular, things were improving in German industry, but progress was also evident in France, Italy and Spain. In British industry, growth in activity slowed slightly in September compared to August. | |
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