- 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)
Eurozone business activity grows at fastest pace in two years
Sep 4 2013, 04:37 ET