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It is believed that global manufacturing is repressed now. However, the last economic data about Eurozone show that the situation has slightly distanced itself.
Eurozone Manufacturing PMI fixed in December at 53.2 bp, the highest rate since April 2014, notes Markit. As a note, a point above 50 shows activity and improvement of a sector. The point below 50 shows a slowdown of activity.
There are also detailed data that tell about positive tendencies. Italy’s Manufacturing PMI rose in December to 55.6 bp, the highest level for the last 5 years. At that time new orders rose in the Eurozone. Manufacturing employment rose in the Eurozone in all countries for the first time since August 2007.
Last volatility of economic indices in the Eurozone shows that manufacturing improves, returning its lost positions, due to low rate of euro, current stimulation programme, improvement of lending conditions, and low commodity prices. These factors also defend manufacturing from risky factors, which put influence on manufacturing of other world economics.
A problem for market is that these factors are simple and well known, though Italy’s economic recovery was unexpected. However, global economic recovery in the Eurozone is weak and under external factors. For example, it can be seen sale of European assets on the background of fall in China’s stock market.
This year can show many internal political problems in the Europe. At that time the most serious threat for the Eurozone comes from outside.