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Economic Growth in Eurozone at 6-Year High
Economic growth in the eurozone continued in May at its fastest pace in six years, according to the IHS Markit Eurozone PMI Composite Output Index.
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Economic growth in the eurozone continued in May at its fastest pace in six years, according to the IHS Markit Eurozone PMI Composite Output Index.
The report, which tracks purchasing activity, calculates an index of 56.8 for May. Any number above 50 indicates growth.
Manufacturing led last month’s expansion, especially in Germany, according to the report. France and Spain also generated stronger indexes. Growth slowed slightly in Italy. But all four countries registered among the greatest increases in employment in a decade.
IHS Markit says its surveys reveal a “broad-based upturn” that is likely to continue well into the year. The firm predicts corresponding upward adjustments in 2017 economic growth estimates by forecasters.
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