Euro-Area Activity Accelerates to Fastest Pace Since Early 2011
- Composite Purchasing Managers’ Index rose to 58.1 in December
- Momentum could bolster case for ECB to end bond purchases
Morgan Stanley's Sheets Sees Euro Rallying to $1.25
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Economic activity in the euro-area accelerated to the fastest pace in almost seven years as services surged while factories benefited from booming domestic demand and near-record growth in export orders.
A composite Purchasing Managers’ Index for manufacturing and services rose to 58.1 in December from 57.5 a month earlier, beating expectations, data from IHS Markit showed. Growth momentum was the strongest in Ireland with France coming second, while activity in Germany reached its highest level in almost seven years.