Eurozone Factory Growth Hits 52.2 Amid Supply Fears
Eurozone manufacturing PMI rose to 52.2 in April as firms built inventories amid supply fears. Business optimism fell to a 17-month low as input costs climbed.
Eurozone manufacturers increased raw material inventories in April as the S&P Global Manufacturing PMI rose to 52.2 from 51.6 in March. It is the fastest growth in new orders in four years, even as business confidence hit a 17-month low. Rising input costs and supply disruptions signal persistent inflation, likely forcing the European Central Bank to raise interest rates.
The headline index from S&P GLOBAL INC matched preliminary estimates, staying above the 50.0 growth threshold. Manufacturers accelerated purchasing to avoid supply shortages and price spikes linked to conflict in the Middle East.
