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The monthly growth of factory activities in the euro area increased at the fastest pace in the history of an important survey of companies extending to nearly 24 years last month, but disruptions in supply chains and renewed general isolation measures in the region may curb activity soon.
With Europe suffering from a third wave of infections in Corona, governments have re-imposed strict restrictions on their citizens, hurting the service sector that dominates the bloc and leaving the manufacturing sector to lead the economic recovery.
The final reading of the IHS Market PMI in the manufacturing sector jumped to 62.5 in March from 59.7 in February, up from a preliminary estimate of 62.4 and the highest reading since the survey began in June 1997.
An index measuring production, which feeds the composite PMI scheduled for release on Monday and which is considered a good measure of the strength of the economy, rose to 63.3 from 57.6, rising from the 50 level separating growth and contraction and reaching the highest level in the history of the survey.
