This is proof that the European economy is getting stronger! - Kakiforex.com - Financial Market Media No. 1 in the World This is proof that the European economy is getting stronger! This is proof that the European economy is getting stronger!

May 24, 2021

This is proof that the European economy is getting stronger!

 The release of manufacturing and services PMI data from the European Zone and the UK, graced the European trading session which showed mixed readings in May.


Economic activity in France continued to increase, with the business sector showing the strongest expansion since July 2020. Meanwhile, the increase in manufacturing activity was the highest in 20 years.


The increase was supported by new order inflows that soared to a 15 -year high following rising business optimism.


However, data readings from Europe’s largest economy, namely Germany display the opposite reading. Although manufacturing activity showed expansion in May, but dropped slightly from the previous reading.



Overall, economic activity in the European Zone remained strong despite the manufacturing sector showing slower growth in May.


Meanwhile, the market was also marked by data readings from the UK which showed encouraging growth. Manufacturing activity strengthened, as output increased, new orders and jobs abruptly followed by more easing of restrictions.


Business activity, on the other hand, increased even though it was slightly off -than -expected. This reading also shows the largest expansion in the services sector since October 2013.


Ultimately, economic activity in Europe continued to be at a strong level in May despite some sectors showing slower growth.