Eurozone Momentum Gathers Into Year End

Euro zone business growth is roaring as the year draws to a close, a survey showed on Thursday, supporting the European Central Bank’s move last month to announce a throttling back of its monetary stimulus.Surveys covering both the services and manufacturing industries outshone even the most optimistic forecasters in Reuters polls – indicating growth is broad-based – with factories having the second best month in the index’s history.The bloc has emerged as the surprise economic star of 2017, with growth rates outpacing its peers, and future-looking indicators in the latest Purchasing Managers’ Index (PMI) suggest the upturn still has momentum.

Source: Euro zone businesses roar towards year-end – PMI – Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.