Draghi Policies Vindicated by European PMI Sending Signal

Mario Draghi’s view that the euro area doesn’t need more monetary easing for now is being vindicated.

Manufacturing and services activity in the region is near the strongest in almost three years, according to surveys of purchasing managers released yesterday. The data round off a quarter of growth even against a backdrop of geopolitical upheaval in Ukraine and an economic slowdown in China, suggesting the European Central Bank president’s policies have put an end to the currency bloc’s financial crisis in sight.