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Euro Zone Business Activity Shoots Up

Posted on Mar 24, 2015

Euro Zone Business Activity Shoots Up

Business activity in the euro zone hit a 46-month high in March, according to data released on Tuesday, bolstering hopes that growth in the region is becoming more entrenched.

Flash euro zone composite Purchasing Manager’s Index (PMI) data from Markit came in at 54.1 in March, up from 53.3 in February, marking the fastest growth in almost four years. The composite reading measures both manufacturing and services activity, with the 50-point mark separating contraction from expansion.

“The improvement was broad-based by sector. Growth of services business activity and new business both hit the highest since May 2011, accompanied by stronger rates of increase in both manufacturing output and new orders to the highest since May of last year,” Markit said in a release.

In the euro zone’s largest economy, Germany, business activity growth accelerated to the highest point in eight months. It’s composite PMI came in at 55.3 in March, up from February’s 53.8, with new order growth hitting a nine-month record.”

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