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Euro Area Poised for Fastest Economic Expansion in a Decade
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Loading...Euro-area economic growth remained solid in August even as services activity slowed, according to IHS Markit.
A composite Purchasing Managers’ Index held at 55.7 last month, slightly below an Aug. 23 flash estimate of 55.8. IHS Markit said on Tuesday that although the region’s services sector expanded at the weakest pace since January, gross domestic product is poised to increase 0.6 percent in the third quarter, setting the stage for the best annual performance in a decade.
“There’s good reason to be optimistic that the current spurt of growth has further to run,” said Chris Williamson, chief business economist at the London-based company.
The generally robust economic trend should come as good news to officials at the European Central Bank, who meet later this week to update policy.
Inflation is slowly picking up, even though at 1.5 percent consumer-price growth remains below the ECB’s goal.
Source: Bloomberg Pro Terminal
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