PMI reached highest level in 27 months
Signs of recovery in the euro area of the longest decline period
Euro-zone received hopes for recovery from economic crisis further boost today after a major European index rose to its highest in 27 months. Markit group said ' economic research, based in London, which the purchasing managers index for the manufacturing and service sectors in the region rose to 52.1 points in September.
Analysts expect a rise was more than moderate for the index tracked closely to 51.7 points.
This is the sixth consecutive monthly rise for the index, which is based on a survey of about 5,000 companies in the euro zone. Germany continues to lead the direction of ascent, but France also registered a rise in business activity for the first time in 19 months. Chris Williamson the Chief Economist at ' Marquette said: the ascent of the purchasing managers index for the euro area in September completed the best quarter for more than two years, and growing indications that the region is recovering from the longest recession in its history.
But he warned from the continued weakness of the economic overall growth rate indicated by the PMI. The analyst group capital economics economic research, James Howat said that the euro-zone recovery still shaky. The analyst also said the ING Bank Martin van Vliet: unlikely another powerful acceleration in the pace of recovery in the foreseeable future, the growth is likely to remain weak for the employment growth for some time to come, it is necessary to make this recovery dependent on itself.