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.
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