Off the wire
• China's external debt edges up in 2014  • Commentary: Could Japanese vivisection of U.S. POWs be harbinger of scores of further unknown atrocities?  • Nigerian police place politicians under surveillance  • Liu Xiang retires as tragic hero  • Feature: China's "flying man" Liu Xiang ends dramatic career  • Pakistani court orders murder case registration against CIA Station Chief  • Roundup: Singapore stocks end up 0.37 pct  • 10 militants killed in Afghanistan  • UNHCR says over 2,048 Somali refugees returned home  • British businesses expect growth pick up in Q2 2015  
You are here: 　 Home

Euro zone PMI rises to 11-month high in March

Xinhua, April 7, 2015 Adjust font size:

As the growth rate of the euro zone's economy continued to improve, the final euro zone purchasing managers' index (PMI) rose to an 11-month high in March, data from financial information services company, Markit, showed Tuesday.

The final Markit Eurozone PMI Composite Output Index increased to 54.0 in March, up from its February level of 53.3. It also reached its joint-highest level for almost four years, said Markit.

The euro zone manufacturing and service sector both expanded in March. The seasonally adjusted euro zone manufacturing PMI was 52.2 in March, marking the fastest rise in production since May 2014.

While service sector activity increased at the sharpest rate in eight months, the euro zone services business activity index increased to 54.2 in March, signalling an expansion in output for the twentieth successive month.

However, the disparities between different individual nations remain great. Ireland and Spain continued to lead the charge, backed by a fast-improving German economy where growth accelerated to an eight-month high, said Markit. But rates of expansion in Italy and France were modest in comparison.

"Whether the euro zone economy has achieved escape velocity to enjoy a return to a strong and sustainable recovery remains uncertain, but the region is certainly seeing its best growth momentum since 2011," said Chris Williamson, chief economist at Markit.

"With the ECB's policy of quantitative easing also set to provide a boost to the nascent recovery in coming months, the economic outlook is therefore brightening as we expect to see more upward revisions to growth forecasts for the year," said Williamson.

"An ongoing recovery is no one-way bet, however, with the Greek crisis remaining a critical threat to stability in the region," Williamson added. Endit