Eurozone Factory Activity Growth in June

Manufacturing activity in the Eurozone increased in June at the fastest pace on record, a survey showed on Thursday, July 1 also showed that factories faced the largest increase in raw material costs in well over two decades.

The final reading of the IHS Markit Manufacturing Purchasing Managers’ Index rose to 63.4 in June from 63.1 in May, a reading above the initial estimate of 63.1 and the highest reading since the survey began in June 1997.

Because of the shortage of shipping containers and supply chains being severely affected by the pandemic, the input price index rose to 88.5 from 87.1, the highest level in the survey’s history.