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Manufacturers dominate EU sector rankings in December

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Staff Writer | January 9, 2017
Latest EU Sector PMI data from Markit showed that manufacturers generally outperformed their service sector counterparts in December.
Manufacturers in Europe
Economy in Europe   Markit Europe Sector PMI
Six out of the seven fastest-growing detailed sectors were based in manufacturing. Moreover, basic materials and consumer goods were the best-performing broad categories, whereas consumer services and healthcare signalled the weakest growth.

Forestry & paper products finished 2016 as the top-ranked detailed sector, with production rising at a series-record pace. Household & personal use products, chemicals and automobiles & auto parts also placed in the top five.

At the other end of the spectrum, beverages was the worst-performing manufacturing sector, ending the year third from bottom in the league table. It had been the leading sector in the early part of the year. Banks was the only service-related sector near the top of the rankings.

Activity rose at the secondquickest rate out of all sectors monitored. Commercial & professional services was the nextbest, rising six places to eighth thanks to its strongest growth in 29 months.

Tourism & recreation signalled the slowest expansion of output in December, just behind healthcare services. Across 2016 as a whole, the rankings were much more balanced. Autos & auto parts was the top performer on average, followed by banks.

Other financials, beverages and technology equipment rounded out the top five. Construction & engineering was the year’s worst performer, with its average Output Index pointing to overall stagnation.