The euro zone economy closed out the year with the strongest growth in nearly seven years, driven by accelerating services and manufacturing activity across all major economies, a survey showed on Thursday. IHS Markit’s Final Composite Purchasing Managers’ Index – seen as a good overall growth indicator for the euro zone – rose to 58.1 in December from 57.5 in November and up slightly from the flash estimate of 58.0. It is now at its highest since February 2011 and well above the 50 mark that separates growth from contraction. The average composite euro zone PMI reading for 2017, 56.4, was the best annual trend since 2006, Williamson noted – just before the financial crisis. Euro zone unemployment peaked at 12.1 percent in the first half of 2013.

Source: Egypt Independent January 04, 2018 10:18 UTC