Euro-Area Economy Picks Up Speed as Orders and Optimism Surge
- Composite PMI climbed to 56 in February from 54.4 in January
- German, French gauges both exceeded economist estimates
BMO's Gallo Sees Euro Strength Diminishing
This article is for subscribers only.
Euro-area economic activity unexpectedly rose to the highest level in almost six years in February as the region’s recovery became more broad-based and inflationary pressures continued to intensify.
A composite Purchasing Managers’ Index climbed to 56.0 from 54.4 in January, putting the region on track for quarterly growth of 0.6 percent, IHS Markit said on Tuesday. Economists predicted the gauge would slip to 54.3. Inflows of new orders and surging optimism among firms point to a potentially stronger expansion in the coming months, the London-based company said.