Euro-Area Recovery Broadens With Strongest Growth in Six Years
- Resilience in growth is slowly shifting ECB stimulus debate
- France’s composite PMI outperformed German number in April
London & Capital's Shah Sees Good Recovery in Europe
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Euro-area economic momentum accelerated to its fastest pace in six years, with France unexpectedly outperforming Germany in a strong start to the the second quarter that suggests the recovery is broadening.
France’s composite Purchasing Managers’ Index unexpectedly advanced to a six-year high of 57.4 in April, putting it above Germany’s for the first time since 2012, according IHS Markit flash readings on Friday. The manufacturing and services index for the region as a whole also increased, exceeding economists’ forecasts and indicating job creation is rising to the highest level in almost a decade.