Economic Buzz: Eurozone manufacturing output sees sustained expansion

The S&P Global Eurozone Manufacturing PMI came in at 51.9 in July, marking a modest rise above June's 51.4. Factory production volumes across the euro area increased at the fastest rate since March 2022. Eurozone factories are enjoying something of a summer growth spurt, with production rising at its fastest rate for four and a half years. However, there are signs that this good news may prove short-lived, with momentum at risk of fading as autumn approaches. Germany, the Netherlands, Austria and Greece are reporting robust production growth. Average supplier delivery times lengthened considerably, according to survey respondents. However, price pressures stayed in place as manufacturers' costs saw another historically elevated increase, although the rate of inflation eased to a five-month low.

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