Economics
Euro-Area Activity Surges as Manufacturing Posts Record Growth
- Composite PMI advances to 58, well above key 50 level
- Economy forecast to grow 2.3% this year, up from 1.8% in 2016
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Economic momentum in the euro area unexpectedly accelerated to the fastest pace in almost seven years as manufacturing posted record growth at the end of 2017.
A composite Purchasing Managers’ Index rose to 58 in December from 57.5 in November, IHS Markit said. Economists surveyed by Bloomberg predicted a decline to 57.2. An index for Germany, the region’s biggest economy, jumped to the highest since 2011.