German manufacturing activity hits four-year high as eurozone growth strengthens

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German manufacturing activity hits four-year high as eurozone growth strengthens
Photo: Omar Havana/AP/TT

The purchasing managers' index for German manufacturing rose to 54.1 in August, up from 52.2 in July and the strongest reading in four years, according to S&P Global's monthly surveys.

Even in Europe' second-largest economy, France, the manufacturing index is rising.

This contributes to a strengthening in the eurozone overall, with the manufacturing index rising to 52.8, up from 51.9 in July and also stronger than economists' forecasts.

The Purchasing Managers' Index is an important barometer of the economy, and a figure above 50 is considered to indicate growth. However, things are slower in the German services sector, whose index fell to 48.5.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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