For more financial news, go to the News24 Business front page. The downturn in euro zone manufacturing activity has likely passed its trough as supply chains begin to recover and inflationary pressures ease, a survey showed on Monday, leading to a rebound in optimism among factory managers. "Prospects have brightened amid signs of healing supply chains and a marked softening of inflationary pressures, as well as a calming of concerns over the region's energy crisis, thanks in part to government assistance." With inflationary pressures easing, supply chains healing and an energy crisis likely averted purchasing managers turned optimistic and the future output index jumped to 53.8 from 48.8. "The number of optimists regarding the year ahead has also now exceeded pessimists for the first time since August, hinting at a steady improvement in business confidence," Williamson said.

Source: News 24 January 02, 2023 11:20 UTC