Euro-area services and manufacturing expanded faster than economists forecast in April, indicating the economy continued to strengthen at the start of the second quarter.
Euro-area services output remained close to the highest level since 2011 in March, signaling that the economic recovery in the 18-nation euro area is on track.
Growth in euro-area manufacturing stayed close to the highest level in almost three years in March, adding to signs the region’s recovery is gathering pace.
U.K. services growth unexpectedly slowed in March and measures of new business and hiring by companies declined.
The Markit Economics final index of U.S. manufacturing fell in March to 55.5 from 57.1 a month earlier, the London-based group said today.
Growth in euro-area manufacturing and services stayed close to the fastest since 2011 in March as France improved, providing further evidence that the region’s recovery is on track.
Mario Draghi’s view that the euro area doesn’t need more monetary easing for now is being vindicated.
U.K. services unexpectedly strengthened in March, easing concern that the economy may be heading for a triple-dip recession.
U.K. services grew at the slowest pace in seven months in January as new business cooled and wet weather soaked the country.
"Policymakers will be concerned that growth could ease further if sterling continues to appreciate."
- Chris Williamson on Apr 03, 2014