Deutschland

The superb sentiment among EMU purchasing managers simply persists

The pre-release of the EMU purchasing manager survey for February paints a picture of extraordinarily optimistic sentiment. The purchasing managers polled reported on rampant job creation on a level last seen over nine years ago and of growing order receipts and improving business prospects. However, the rising price pressure can only in part be passed on to customers. The summarised Composite Index for Euroland climbed from 54.4 to 56.0 index points, the highest mark in 70 months. Here, sentiment improved in both industry and the service sector. It is also gratifying that according to Markit the good sentiment has also spread to economies over and above the two large EMU member states of France and Germany. In February, German purchasing managers were extremely upbeat. The sentiment index for industry climbed from 56.4 to 57.0 index points and thus hit a high for the last 69 months, indicating that German industry…