Euro Zone Business Activity Shows a Major Growth
Experts' recent analysis hints that the economy is healing. Euro zone business activity is growing faster than as was thought in September, reveals PMI.
On Monday, findings of a new survey have shown that the business activity in the euro zone is growing faster than as was being expected during the last month. The experts say that the credit for this growth goes to the new orders that are flooding in at their fastest pace in over two years. They hint that the economy has started to heal.
Moreover, the survey findings have also talked about the bloc's two largest economies i. e. Germany and France, both of which have witnessed a major growth.
According to the issued reports, the Markit's Flash Composite Purchasing Managers' Index (PMI) last month was at 51.5 whereas this month it is standing at 52.1. The present figure is the highest one that has been achieved since June 2011.
Expert's expectations were till 51.9 but they are left far back now. With this, the expert's conclude that the pace of growth in the bloc's dominant services sector is absolutely stunning. It has beaten all the forecasts in a Reuters poll.
Reading above 50 indicates growth, say experts.
"These surveys show a real underlying swell of improvement. It's all looking very positive," said Mr. Chris Williamson, chief economist at Markit.
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