CEO Comité Européen de l‘Outillage 
European Tool Committee 
Europäisches Werkzeugkomittee

Eurozone productivity rises for first time in over two years during July

The rate of increase in productivity was the fastest for just over six years. By sector, manufacturing and services both registered productivity improvements, with the former reporting the steeper increase.

The eurozone’s three largest economies all saw higher efficiency in July, with France recording the strongest gain in productivity.

 

Key findings:

  • Eurozone’s private sector sees productivity gains for first time since June 2018
  • Higher efficiency recorded across Germany, France and Italy as well as…
  • …in both manufacturing and service sectors

 

Efficiency gains in the eurozone were driven by a combination of output returning to growth and employment falling further. While the improvement in productivity was seen across the manufacturing and service sectors, the former reported a faster growth in the rate of increase in efficiency.

 

Further information:

IHS Markit Eurozone Productivity PMI July 2020

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Posted in General Market News

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