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Economic gloom lifting in Europe, surveys show

Category :International Sub Category :Europe
2009-08-21 00:00:00
   Views : 300

The economy built around the euro contracted by 0.1 percent in the three months to the end of June, Eurostat said.

This was despite both Germany and France - the eurozone's two biggest economies - climbing out of recession during the quarter to each report a 0.3 percent expansion rate.

At the same time, Markit said its PMI index for the German services sector jumped to 54.1 this month from 48.1 in July while its French manufacturing index rose to 50.2 in August from 48.1 last month.

Friday's survey showed the eurozone's manufacturing sector PMI index rising to 47.9 this month from 46.3 in July and the currency bloc's service sector index increasing to 49.5 from 45.6.




Author :DPA



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