Trade & Sector NewsManufacturing sectors dominate European growth rankings in March

The latest detailed European sector Purchasing Managers Index (PMI) data indicated output growth in 15 out of 20 monitored sectors in March, up from ten in February.

Manufacturing continued to dominate the rankings with the top seven sectors all engaged in goods production.

The strongest expansions were in Machinery & Equipment and Technology Equipment, where the Output Index surged to record highs (since 1998) of 67.3 and 66.4, respectively.

Growth rates in the next seven highest-ranked sectors also accelerated since February, most notably in Metals & Mining in fourth position overall, behind Automobiles & Auto Parts.

The only pure services sector in the top half of the table was Software & Services (9th), accompanied by Pharmaceuticals & Biotechnology (8th) which encompasses both manufacturing and services. Software & Services saw the greatest rise in employment, however, followed by its manufacturing counterpart Technology Equipment.

 

Source: https://www.markiteconomics.com

 

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