Eurozone business growth accelerates


Eurozone flash manufacturing PMI has increased to 53.3 in April from 53 in March and topped consensus that was also 53.

Services has risen to a 34-month high of 53.1 from 52.2 and vs 52.4.

Composite output has climbed to a 35-month high of 54 from 53.1 and vs 53.1.

Manufacturing output has increased to 56.5 from 55.6.

The growth was led by Germany, while France stabilized.

The data indicates that eurozone GDP is on course to rise 0.5% in Q2 following 0.4% growth in Q1.

The bloc experienced a return to job creation, says Markit, suggesting that companies believe "that the recovery has legs and is looking increasingly sustainable." However, Markit warns of "growing fears that deflationary pressures are intensifying."

The euro rises further, having gained a boost from German PMI, and is +0.25% at $1.3839. (PR)

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This was corrected on 04/23/2014 at 05:28 AM.
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Comments (1)
  • june1234
    , contributor
    Comments (4263) | Send Message
     
    Growth is being accomplished by slashing prices or deflationary pressures they keep taking about. Look for ECB to announce further QE measures same with China whose manufacturing sector remains stuck in contraction
    23 Apr 2014, 04:30 AM Reply Like
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