Eurozone business activity grows at fastest pace in two years


The eurozone composite PMI rose to 51.5 (flash 51.7) in August from 50.5 in July, indicating the fastest rate of growth since 2011.

The services index increased to 50.7 (51) from 49.8, representing the first increase in activity for a year and a half.

"The eurozone recovery is looking increasingly broad-based, with more sectors and more countries emerging from recession," says Markit.

"Domestic demand is starting to pick up...with the region’s retail PMI also moving into positive territory for the first time in over two years."

Spain and Italy have joined Germany in returning to growth, while France's decline is far weaker than earlier in the year.

However, job losses continue.

ETFs - Stocks: EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, EPV, DFE, FEU, FEEU. Bonds: EU. Euro: FXE, ERO, ULE, URR, EUO, DRR, EUFX

EU Stoxx 50 -0.8%, euro flat vs dollar after being higher earlier. (PR)

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Comments (1)
  • Tack
    , contributor
    Comments (15960) | Send Message
     
    For those who frequently claim they want to find value or buy dips, the above is a hint. Europe is still laden with stocks across all kinds of industries still selling at sizable discounts to previous valuations.
    4 Sep 2013, 08:37 AM Reply Like
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