Manufacturing grows in Eurozone in February, inflation remains a concern

Factory Output has Grown in Eurozone

Factory Output has Grown in Eurozone

According to data released by market survey company Markit, factory output in February grew by 1.4 points to 58.4 in the eurozone, the highest since July 2006.

It was “one of the strongest growth rates in the near 13-year history of the survey”, said Markit in a statement.

Any reading over 50 indicates an expansion in the manufacturing sector.

In a separate development, the German IFO Institute said its business confidence index – a closely watched indicator, has also risen in February.

The index rose for the ninth consecutive month to 111.2 points in February from 110.3 points recorded in January.

Warning about inflation that can potentially slow down the growth, Markit said “with input costs and selling prices showing the fastest rates of increase since mid-2008”, concerns remain whether the growth will be sustainable.

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