euro zone economy races into q2 with bumper growth
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Euro zone economy races into Q2 with bumper growth

Egypt Today, egypt today

Egypt Today, egypt today Euro zone economy races into Q2 with bumper growth

London - Arab Today

The euro zone economy bounded into the second quarter with strong broad-based growth, according to a survey showing businesses increased activity at the fastest rate for six years as new orders stayed robust.
Signs the bloc is on a sustainable growth path, along with inflationary pressures, will be welcomed by the European Central Bank (ECB), which has struggled for years to achieve either, despite the ultra-loose monetary policy. Consumer confidence is also improving.
IHS Markit’s Flash Composite Purchasing Managers’ Index (PMI), seen as a good guide to growth, climbed to 56.7 from March’s 56.4, its highest since April 2011. A reading above 50 indicates growth.
That matched the most optimistic forecaster in a Reuters poll in which the median prediction was a dip to 56.3.
“April’s rise in the euro zone composite PMI adds to evidence that the economy is performing well,” said Jennifer McKeown, chief European economist at Capital Economics.
IHS Markit said the latest PMI data, if maintained, pointed to the second-quarter economic growth of 0.7 percent, well above the 0.4 percent predicted in a Reuters poll on Thursday.
“There is a good outlook for the year — it looks like the upturn has legs. With numbers like these, people are going to start edging up their forecasts,” said Chris Williamson, the chief business economist at IHS Markit.
Earlier data from Germany showed its private sector grew at a slower pace this month as services shifted into a lower gear but factory activity remained high, suggesting Europe’s biggest economy is carrying its upswing into the second quarter.
French business activity confounded expectations in April by growing at the fastest pace in nearly six years, showing no signs of cooling down just days before the most uncertain presidential election in years.
Although no major survey sees her winning, far-right and anti-EU leader Marine Le Pen is polling strongly. None of the economists polled by Reuters this week said she would be best for French economic growth.
“Even though on the eve of the first round of the French elections a good portion of caution is recommendable, the evidence is piling up that the euro zone economy could become the positive growth surprise of the year,” said ING chief economist Carsten Brzeski.
Providing further evidence the recovery will continue, a sub-index measuring new business in the euro zone only dipped to 55.8 from March’s six-year high of 56.2.
Firms in the bloc’s dominant service industry increased activity faster this month, with its PMI rising to 56.2 from 56, a six-year high. That was above all forecasts in a Reuters poll, where the median predicted no change.
To meet the growing demand, and indicating confidence about the months ahead, hiring remained vigorous. The employment index held steady at 54.4, its highest since November 2007.

Source: Arab News

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

euro zone economy races into q2 with bumper growth euro zone economy races into q2 with bumper growth



GMT 15:49 2011 Friday ,10 June

Oil firm wins injunction against Greenpeace

GMT 10:27 2015 Monday ,06 July

Mini to launch ‘Clubman’ in 2016

GMT 17:21 2011 Wednesday ,23 February

Lampard Desperate To Win The Champions League

GMT 10:13 2018 Tuesday ,09 January

Barcelona to unveil 160m Coutinho

GMT 23:03 2017 Monday ,16 January

Bank of Korea: Money Production Cost Rise in 2016

GMT 20:33 2011 Friday ,06 May

Asad\'s army arrests all men over 15 in Daraa

GMT 11:55 2011 Tuesday ,29 November

Ultrabooks could save the PC

GMT 13:02 2012 Saturday ,01 September

Zombies and Morons compete

GMT 07:31 2017 Tuesday ,20 June

Sisi keen on attaining unity

GMT 11:50 2015 Saturday ,26 September

The Library of Fragrance announces January launches

GMT 06:28 2014 Saturday ,18 October

Asian Junior Volleyball tourney kicks off in Bahrain

GMT 13:31 2016 Saturday ,13 February

Greek farmers clash with police

GMT 07:40 2012 Friday ,06 July

Deeds, not words, matter the most

GMT 14:16 2016 Wednesday ,23 November

Gigi sorry for ‘racist’ Melania Trump impression

GMT 22:52 2011 Tuesday ,26 April

Nigeria prepares for parliamentary elections

GMT 20:35 2016 Tuesday ,04 October

Paris climate deal: EU backs landmark agreement

GMT 10:50 2016 Thursday ,01 September

India's Reliance announces launch

GMT 09:34 2016 Friday ,30 September

Rosetta spacecraft set for final comet crash landing

GMT 06:27 2017 Wednesday ,28 June

Rakeen Georgia ex-CEO faces trial in Georgia
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday