Europe Sector PMI: Tech remains fastest-growing area

India Infoline News Service | Mumbai | October 06, 2017 14:50 IST

The latest Europe Sector PMI data from IHS Markit showed that technology again achieved the fastest rate of expansion among seven broad sectors in September.

The latest Europe Sector PMI data from IHS Markit showed that technology again achieved the fastest rate of expansion among seven broad sectors in September.

Technology has led the growth rankings in every month of 2017 so far except in March. At the detailed level, marked increases in output were signalled in technology equipment, banks, machinery and equipment and metals and mining in September. Technology equipment, banks and machinery and equipment also registered the fastest growth over the third quarter as a whole.

Growth in the wider financials sector remained constrained somewhat in September by a muted increase in real estate activity. It was the second weakest performing sector over the third quarter, ahead of tourism and recreation.

Output growth in basic materials accelerated in September. Over the third quarter as a whole, production expanded at the strongest rate since Q1 2011. Metals and mining recorded the fastest increase in output since February 2011 in September, while chemicals also registered marked growth.

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