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Eurozone business recovery again gains pace

Eurozone business recovery again gains pace

Popular News

BRUSSELS: The recovery of the eurozone economy is again gaining pace after dipping last month, a closely watched survey said on Tuesday.

The IHS Markit purchasing managers’ index (PMI), which measures corporate confidence, rose to 55.8 in November after dropping to 54.2 in October, reports AFP.

This is good news for job creation as the single currency area recovers from the lingering damage of the coronavirus pandemic and global supply chain disruption.

But it comes along with increasing inflationary pressures, with prices and wages rising more steeply.

Chris Williamson, chief business economist at IHS Markit said: “A stronger expansion of business activity in November defied economists’ expectations of a slowdown.”