Europe's factories are steaming ahead

MerkelGettyFrench President Francois Hollande welcomes German Chancellor Angela Merkel prior to a meeting at the Elysee Palace on July 06, 2015 in Paris, France.

It’s manufacturing PMI day in Europe, meaning we get a snapshot of how factories across Europe are doing.

Purchasing managers’ index readings for the manufacturing sector in December are rolling in this morning.

The figures, each somewhere between 0 and 100, give an idea of whether a country’s manufacturing sector is growing or contracting. Anything above 50 signals growth, anything below means contraction.

The picture is a good one, with Italy and Germany beating forecasts, and Spain and France holding up pretty well.

Here’s what we’ve got so far:

  • Spain: 53, down from 53.1 in November;
  • Italy: 55.6, up from 54.9 in November;
  • France: 51.4, down from 51.6 in November;
  • Germany: 53.2, against forecasts of 53.

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