Euro-area factories expand at fastest pace in six years

Bloomberg

Euro-area factories expanded output at the fastest pace since 2011 as the currency bloc’s economy continued to gather momentum. A gauge of manufacturing activity rose to 56.7 in April from 56.2 the previous month, IHS Markit reported. An April 21 preliminary estimate was for an increase to 56.8. With the European Central Bank showing little hurry to end extraordinary stimulus, global trade strengthening and political risk receding as centrist Emmanuel Macron looks poised to become the next French president, the currency bloc’s recovery is set to broaden. Data on Wednesday will show gross domestic product gained 0.5 percent in Q1, according to a Bloomberg survey.