Economic news

Euro zone PMI Composite peaked in 6 years

Euro zone Manufacturing Purchasing Managers Index (PMI) rose to a 72-month high in April 2017. The index increased to 56.7 from 56.4 in March.

The services-sector index also grew from 56 to 56.2, its highest in six years.

The composite output index increased from 56.2 to 56.8 points, that is also the highest level since 2011.

The euro zone economy gets off to strong start in the II quarter. The data would be equivalent to GDP growth of around 0.7% for the second quarter. Such strong sustainable growth will inevitably lead to a revision of economic forecasts for 2017, according to Chris Williamson, chief business economist at IHS Markit.


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