In January, Euro zone manufacturers have seen new orders reach a new high not seen since January 2011. The revitalization is being led by German employers, who broke a 32-month high. France broke a 23-month high, but the rest of Europe?s second biggest economy is still dragging. Even with the uptick in orders, European manufacturers were unable to raise prices, but did expand payrolls. Unemployment in the Euro zone, as tabulated by the European Central Bank, neared a record high at 12% in December. January?s numbers have yet to be released.
See "Euro zone factories enjoy solid start to 2014, France lags again: PMI", Jonathan Cable, Reuters, February 2, 2014