FRANKFURT, Germany (AP) — Business activity in Europe has
risen to its highest level in three years as a once-shaky economic
recovery gains speed.
The Markit survey of purchasing managers, a
closely watched gauge of business activity, climbed to 54.0 in April
from 53.1 in March. That’s the highest reading since May, 2011. Anything
over 50 indicates expansion.
Analysts said Wednesday’s figures,
which cover both services and manufacturing companies, showed that the
moderate recovery was showing increasing strength in the 18 countries
that share the euro.
Alarmingly low inflation of only 0.5 percent
and high unemployment have raised fears the rebound was too weak to
sustain itself and would require more stimulus from the European Central
Bank.
The eurozone grew by a quarterly rate of 0.2 percent in the fourth quarter of last year.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
FRANKFURT, Germany (AP) — Business activity in Europe has
risen to its highest level in three years as a once-shaky economic
recovery gains speed.
The Markit survey of purchasing managers, a
closely watched gauge of business activity, climbed to 54.0 in April
from 53.1 in March. That’s the highest reading since May, 2011. Anything
over 50 indicates expansion.
Analysts said Wednesday’s figures,
which cover both services and manufacturing companies, showed that the
moderate recovery was showing increasing strength in the 18 countries
that share the euro.
Alarmingly low inflation of only 0.5 percent
and high unemployment have raised fears the rebound was too weak to
sustain itself and would require more stimulus from the European Central
Bank.
The eurozone grew by a quarterly rate of 0.2 percent in the fourth quarter of last year.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.