Broadening Eurozone recovery gathered pace in April; Growth of services rose to two-and-a-half year peak; Manufacturing at highest level since June 2006

May 5th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The final Markit Eurozone Composite Output Index  --  which covers the private manufacturing and service economies - - rose from 55.9 in March to 57.3 in April, its highest level since August 2007 and matching the earlier flash estimate. Business activity has risen in each of the past nine months with the recovery broadening out from manufacturing to services in recent months. The manufacturing sector continued to lead the upturn, with the Manufacturing PMI (Purchasing Managers' Index) rising to its highest level since June 2006, driven by the fastest expansion of production for ten years. Growth of services business activity also showed renewed strength, accelerating to a two-and-a-half year peak.

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