Economics
Euro-Area Economy Sees Silver Lining as Growth Momentum Picks Up
- Composite PMI unexpectedly increases, led by services
- Data may be first hint at rebound from weak start to 2018
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The much awaited rebound in euro-area growth momentum may have finally begun.
A gauge measuring private-sector activity unexpectedly increased in June, suggesting the economy is gathering pace after a slow start to the year. With output strengthening in the bloc’s two largest economies, Germany and France, the numbers underpin the European Central Bank’s prediction that a rebound is on the cards, even if it arrives later than expected.