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MNI BRIEF: EZ Economy Growing At Fastest Pace in 3-Yrs: Survey

LONDON (MNI)

Resurgent service sector growth in May on top of an already recovering manufacturing sector saw the eurozone economy growing at its fastest pace since February 2018, the latest PMI survey from IHS Market showed. The headline Composite index rose to 57.1 in May from 53.8 in April, with the Services index rising to 55.2 from 50.5.

Overall growth across the economy should lead to a strong Q2 GDP reading for the euro area according to Chris Williamson, IHS Markit's chief business economist. "With a survey record build-up of work-in-hand to be followed by the further loosening of covid-19 restrictions in the coming months, growth is likely to be even more impressive in the third quarter," he added.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
DataPolicy NewsHomepageCEEMEAEurozoneData StoriesBriefStoryRegion
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
DataPolicy NewsHomepageCEEMEAEurozoneData StoriesBriefStoryRegion

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