European Think-Tank Says Leaving EU Would Cost UK 2.2% of GDP

Business output in the eurozone grew at its fastest rate in nearly four years in March, a closely watched survey suggests.

The CIPS/Markit composite purchasing managers’ index (PMI) rose to 54.1, compared with 53.3 a month earlier – it’s highest level in 46 months.

Any reading above 50 indicates growth while a reading below 50 points to a fall in activity.
Markit said the survey pointed to first-quarter economic growth of 0.3%.

That would match the eurozone growth figure for the final three months of 2014.

It said the improvement in business output was the result of growth in new orders that had increased at their fastest rate since 2011.

Employment also grew at its fastest rate since August 2011.

Job creation in the service sector “held steady” near February’s four year high, Markit said, while in the manufacturing sector it grew at its quickest pace since April last year.

Crucially, the survey showed that deflationary pressures eased in March with prices falling at the slowest rate since July. Markit said this reflected the need for some firms to pass on costs to customers

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