Euro zone PMIs show business activity hits its highest level since April 2011

by Dramelin 7:00 AM 0 comments

Euro zone businesses grew during March at their fastest pace since April 2011, according to survey data released on Friday.
"There is a nice broad-based strengthening of the euro zone economy, this is a really solid rate of expansion.
The euro zone March flash composite PMI (purchasing managers` index) - a widely watched proxy for growth and the health of business activity - came in at 56.
7, ahead of both February`s reading of 56.
0 and median consensus expectations of 55.
8.
"As such, policymakers at the ECB are unlikely to be convinced that recent signs of a pick-up in activity will translate into sustained upward pressure on inflation," he concluded.
The buoyant figure signaled that robust demand persisted during the month despite a recent rebound in inflation to around the European Central Bank`s (ECB) target level of 2 percent in February.