Euro zone business expanded at the fastest rate this year in November, thanks to strong activity at manufacturers and a spike in new orders, even as firms generally held prices steady, a survey showed on Wednesday.
The strong run of data offers some hope that the economy may be at the start of a more solid cyclical upturn and will be welcome news for the European Central Bank, which is still likely to announce next month an extension to its massive stimulus programme.
IHS Markit’s euro zone flash composite Purchasing Managers’ Index, seen as a good overall growth indicator, jumped to 54.1 from October’s 53.3, the highest reading this year and just shy of last December’s 54.3. It was far above the 50 point line indicating growth in activity.
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