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Free AccessMNI: Eurozone Growth Near 7-Yr High: IHS Markit
--Eurozone Flash Dec Composite PMI At 58.0 After 57.5 In Oct
LONDON (MNI) - Eurozone output growth picked up in December, with expansion
running at the highest level in ALMOST 7 years, a survey released Thursday
showed, with the expansion again led by the manufacturing sector. .
The December Markit Composite Purchasing Managers' Index stood at 58.0, up
from the 57.5 reading seen in November.
According to the survey, growth was again seen across all of the 'big four'
nations, with French growth outpacing Germany for the third consecutive month
Output and input cost inflation remained elevated, just dipping below
November's multi year highs.
"Higher prices also reflected the need to pass higher costs on to
customers. Average input costs rose sharply again in both sectors, though
especially in manufacturing.," the survey said.
--STRONG Q4 GROWTH
"The eurozone economy is picking up further momentum as the year comes to a
close, ending its best quarter since the start of 2011. The PMI is signalling an
impressive 0.8% GDP increase in the fourth quarter, with accelerating growth
seen in both Germany and France, where fourth quarter growth rates of 1.0% and
0.7-0.8% are indicated respectively," said Chris Williamson, chief business
economist at IHS Markit.
"The eurozone upturn is being led by a booming manufacturing sector, with a
record PMI seen in December, but stronger domestic demand is also helping drive
faster service sector growth," he added.
"Although price pressures abated slightly in December, the robust growth of
demand and tightening labour market hint at rising core inflationary pressures
as we move through 2018," Williamson noted.
The full text of the IHS Markit release can be seen here: goo.gl/oaJXiU
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$X$$$,MT$$$$,M$XDS$]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.