Brussels
Business activity in the eurozone jumped at its fastest rate in 15 years this month, a closely watched survey said on Wednesday, as a reopened economy unleashed pent-up demand in Europe.
Economic data group IHS Markit said the “impressive progress” of vaccinations was jumpstarting the single-currency area, fuelled by eased restrictions that are at their lowest since September.
This “brightening prospect of life increasingly returning to normal has… pushed confidence to an all-time high, fuelled greater spending and encouraged hiring,” said Chris Williamson, chief economist at IHS Markit.
Accordingly, the firm’s PMI index — which shows the earliest trends in the manufacturing and service sectors — said activity leapt from 57.1 in May to a booming 59.2 in June, far above the 50-point level that indicates growth.—Agencies
