Eurozone Growth Fastest in 6 Years

May 4, 2017 Share Print 0

A closely watched survey indicates that economic growth across the 19-country eurozone struck a 6-year high in April.

Financial information company IHS Markit says Thursday that its purchasing managers’ composite output index — a broad gauge of economic activity — rose to 56.8 in April from 56.4 the previous month. The reading was at its highest level since April 2011.

Anything above 50 indicates expansion.

Chris Williamson, the firm’s chief business economist, said the survey portrays “an economy that is growing at an encouragingly robust pace and that risks are moving from the downside to a more balanced situation.” He said it’s consistent with quarterly growth of 0.7 percent.

On Wednesday, figures showed the eurozone grew by 0.5 percent in the first quarter.

via Mainichi

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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.