eurozone economy hits near 6year high
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Eurozone economy hits near 6-year high

Egypt Today, egypt today

Egypt Today, egypt today Eurozone economy hits near 6-year high

The eurozone December Composite Purchasing Managers Index
Brussels - AFP

Eurozone business activity hit its highest rate since May 2011 in December but the outlook remains hostage to political developments, a closely watched survey showed Wednesday.

Data monitoring company IHS Markit said its report suggested the 19-nation eurozone economy was set for solid growth but nothing could be guaranteed as "political uncertainty dominates" -- an apparent reference to the election of Donald Trump and continuing turmoil over Brexit.

It said its December Composite Purchasing Managers Index came in at a final 54.4 points, up from November's 53.9 points.

December was initially also given at 53.9 points.

The PMI measures companies' readiness to spend on their business and so gives a good idea of how the underlying economy is performing.

Any reading above the boom-bust 50 points line indicates the economy is expanding.

IHS Markit chief business economist Chris Williamson said the December figures "signal an even stronger end to 2016 than the preliminary flash numbers, though whether this provides a much-needed springboard for the euro area’s recovery to gain further momentum in 2017 remains very uncertain."

"Much depends on political events over the course of the next year," Williamson said, without specifying what issues he was referring to.

He said the report pointed to economic growth of 0.4 percent in the last three months of 2016, up from 0.3 percent in the third and second quarters, supported by a weaker euro and the European Central Bank's unprecedented stimulus programme.

"The concern is that domestic demand is likely to remain subdued over the course of 2017 as political uncertainty dominates, resulting in another year of disappointing growth across the region as a whole," he added.

 

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*

eurozone economy hits near 6year high eurozone economy hits near 6year high



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
 
 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