Off the wire
• Feature: Relentless inflow of migrants, refugees puts pressure on Rome  • Iran dismisses Israel's charges of terrorism as "baseless"  • Polish innovation helping to counteract environmental pollution  • 1st LD Writethru: Belgian threat analysis unit dismisses travel alert issued by U.S.  • Albania to start certification of livestock in Dec.  • Poland's new innovation law takes effect  • Malta sees reduction in annual rate of inflation  • Iran's parliament takes step to reduce drug-related executions  • Feature: Sudan's children cancer hospital represents glimpse of hope for young patients  • Tanzania to use vintage air rally to market its tourist destinations  
You are here: 　 Home

Eurozone PMI signals strongest growth so far this year: survey

Xinhua, November 24, 2016 Adjust font size:

The pace of economic growth in the eurozone accelerated to the fastest so far this year, according to survey results released on Wednesday.

The eurozone flash composite Purchasing Managers' Index (PMI), compiled by IHS Markit, rose to 54.1 in November, up from 53.3 in October. The latest reading signalled the strongest monthly increase in output since last December.

IHS Markit, headquartered in London, is a global information and analytics provider. It's eurozone flash composite PMI is seen as an overall growth indicator.

The company said identical rates of expansion were seen across both the manufacturing and service sectors, with the latter seeing the best expansion for 11 months.

Although manufacturing output growth eased slightly, the rise was still the second-largest in 2016 so far, it said.

"The preliminary PMI results for November indicate the sharpest monthly increase in business activity so far this year, with plenty of signs that growth will continue to accelerate," said Chris Williamson, chief business economist at IHS Markit.

He said Germany and France, the two largest eurozone members, led the upturn.

"The PMI readings so far for the fourth quarter point to GDP expanding 0.4 percent, led by a rebound in German growth to 0.5 percent. France is also seen to be enjoying its best spell since the start of the year, with the PMIs signalling GDP growth of 0.2-0.3 percent in the fourth quarter," he said. Endit