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Euro zone business activity is at a seven-month high

Growth of business activity in the euro area economy hit a seven-month high in February according...
Newstalk
Newstalk

11.54 20 Feb 2015


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Euro zone business activity is...

Euro zone business activity is at a seven-month high

Newstalk
Newstalk

11.54 20 Feb 2015


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Growth of business activity in the euro area economy hit a seven-month high in February according to the flash Markit Eurozone PMI.

The survey's Composite Output Index rose from 52.6 in January to 53.5 - any figure above 50 indicates growth.

Business activity has now accelerated for three successive months - March is expected to be another strong month.

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New orders increased at the sharpest rate in seven months.

Markit's research found that companies have been struggling to deal with an increase in the inflow of new business - this means that backlogs of uncompleted orders rose for the first time since last April.

Firms are now taking on new employees at the fastest rate since August 2011.

Growth in the manufacturing and service sectors also accelerated - factory output and business activity levels hit a seven-month high.

'Flash' readings take account of between 85 and 90 percent of the relative data.

Commenting on the figures, Chris Williamson, Chief Economist at Markit said:

"Employment is now rising at the steepest rate since 2011 as employers become increasingly confident in the outlook and eager to take on staff to meet rising demand."


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