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Eurozone Growth at 6-Year High
The eurozone’s economy is expanding at its fastest pace since 2011, according to IHS Markit’s purchasing managers’ index.
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The eurozone’s economy is expanding at its fastest pace since 2011, according to IHS Markit’s purchasing managers’ index.
The index rose to 56.0 last month—a 70-month high—from 54.4 in February. Any number above 50 indicates growth. Manufacturing led the gain as growth in new orders and exports drove increases in Germany, France, Italy and Spain.
The employment rate across all sectors is at a nine-year high. Markit says job growth in all four countries remains above the region’s average.
But Eurostat notes that retail sales dipped in January for the third consecutive month, suggesting that higher prices are affecting consumer spending. Rising energy costs pushed annualized inflation to a four-year high of 2% across the 19-nation eurozone.
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