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Eurozone Business Activity Near 6-Year High
Business activity in the eurozone grew this month at its fastest pace since May 2001, according to the Markit Composite Purchasing Managers’ Index.
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Business activity in the eurozone grew this month at its fastest pace since May 2001, according to the Markit Composite Purchasing Managers’ Index.
Markit’s PMI, which measures trading activity, rose to 56.7 from 56.0 in February. Any number above 50 indicates expansion.
The survey says growth is being fueled primarily by the service sectors in France and Germany. Markit notes that results may nudge the European Central Bank closer to increasing interest rates in June.
Worries about the outcome of elections in several eurozone countries leave the longer term outlook for the region unclear, economists say. But for now, Markit says, the business mood is “very positive” across much of Europe.
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