-
Eurozone economic growth accelerates on back of faster German expansion
The rate of eurozone economic expansion gathered pace at the start of the fourth quarter. Output rose at the quickest pace since January, underpinned by stronger inflows of new business, rising backlogs of work and increased hiring. The final Markit Eurozone PMI® Composite Output Index rose to 53.3 in October, up from 52.6 in September, but below the earlier flash estimate of 53.7. Faster output growth was seen in both the manufacturing and service sectors, reaching a 30- month high in the former. By nation, stronger economic growth was led by a solid upswing in the rate of expansion in Germany. German output rose ... (full story)