Europe’s Economy on the Rise as Purchasing Managers’ Indices Soar, While Israel Weighs Export Restrictions on Scrap

Europe’s economy is experiencing growth as indicated by the recent strong Purchasing Managers’ Indices. The Eurozone saw a significant increase, with Germany’s service sector performing particularly well. The Purchasing Managers’ Index in April rose unexpectedly to its highest level in eleven months, pointing towards a growth in economic output.

In Israel, discussions are underway to introduce restrictions on the export of iron and steel scrap due to a shortage in the country. A draft law has been proposed that would require export licenses for scrap and implement quantitative quotas to address the scarcity.

Export bans on scrap are becoming more common globally, with several countries implementing restrictions to address shortages. The European Union is also considering an export ban as part of its Waste Shipment Regulation, in response to calls from domestic steel producers.

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