Eurozone economy 'energized' at third quarter's end | iNFOnews | Thompson-Okanagan's News Source

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Eurozone economy 'energized' at third quarter's end

French President Emmanuel Macron meets with an Amazon employee during a visit at the new Amazon warehouse in Boves, northern France, Tuesday, Oct. 3, 2017. (Yoan Valat/Pool Photo via AP)
October 04, 2017 - 1:37 AM

LONDON - A closely watched survey shows that the eurozone economy picked up steam at the end of the third quarter, reinforcing hopes about the pace of the single currency bloc's recovery.

In a monthly survey, financial information company IHS Markit says that its main gauge of business activity struck a four-month high in September. Its so-called purchasing managers' index, which surveys activity in both the manufacturing and services sectors, rose to 56.7 points in September from 55.7 the month before. Anything above 50 indicates expansion.

Chris Williamson, the firm's chief business economist, said the survey suggests that the eurozone is poised for "impressive" quarterly third-quarter growth of 0.7 per cent, with the economy "energized" by inflows of new orders growing at a 6-year high rate and expectations of future growth.

News from © The Associated Press, 2017
The Associated Press

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