Economics
Euro Area Poised for Fastest Economic Expansion in a Decade
- Composite PMI held at 55.7 in August vs 55.8 flash estimate
- IHS Markit predicts GDP will increase 0.6% in second quarter
UBS Says ECB to Unveil Taper Plan at Oct. Meeting
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Euro-area economic growth remained solid in August even as services activity slowed, according to IHS Markit.
A composite Purchasing Managers’ Index held at 55.7 last month, slightly below an Aug. 23 flash estimate of 55.8. IHS Markit said on Tuesday that although the region’s services sector expanded at the weakest pace since January, gross domestic product is poised to increase 0.6 percent in the third quarter, setting the stage for the best annual performance in a decade.