Eurozone PMI Shows Faster Growth in February

Business growth in the eurozone accelerated last month to its fastest pace since June 2011, a survey says.

The final Markit Eurozone Composite Purchasing Managers’ Index (PMI) for February was 53.3.

This was higher than an earlier, preliminary estimate of 52.7, and above the 50 level that indicates expansion.

Markit said the figures indicated the eurozone is set to grow by 0.4-0.5% in the first quarter of 2014, which would be the best growth for three years.

Official figures, also released on Wednesday, confirmed that the eurozone grew by 0.3% in the final three months of 2013. Growth was helped by rising exports and improving investment.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza