Eurozone Business Activity Grows in September

Business activity in the euro zone grew faster than forecast in September, helped by improvements in both Germany and France, boosting hopes for the region’s economic recovery.

Markit’s flash purchasing managers’ index (PMI) on Monday revealed that the euro zone’s composite index posted its largest gain since June 2011, rising to 52.1, up from 51.5 in August. It was the sixth consecutive month of higher readings. A reading above 50 denotes expansion.

James Howat, European economist at Capital Economics, said the rise in the euro zone’s composite PMI suggests that the bloc’s recovery may have gathered pace in the third quarter.

via CNBC

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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