EU manufacturing recovery accelerates

The recovery in eurozone manufacturing accelerated at the start of the second quarter, but factories cut goods prices for a second straight month, a business survey showed yesterday.

Growth was again led by Germany, Europe’s largest economy, and while previously struggling companies in Spain and Italy reported expansion, French manufacturing remained weak.

Markit’s final Eurozone Manufacturing Purchasing Managers’ Index rose to 53.4 last month from March’s 53.0. That was slightly better than an earlier reading of 53.3 and marked the tenth month the index has been above the 50 level that separates growth from contraction.