Euro zone growth reaches fastest pace in six years
France’s PMI numbers unexpectedly exceeded Germany’s for the first time since 2012
France’s composite Purchasing Managers’ Index climbed to its highest level in six years, outperforming Germany’s for the first time since 2012. The improvement helped drive the region as a whole to grow at its fastest pace in six years, and suggests the euro zone’s recovery is broadening, reports Bloomberg.
“An interesting feature of the current upswing is that the positive momentum is broadly spread across most euro-zone countries and not only driven by a few strong ones,” Bloomberg quoted Carsten Brzeski of ING-DiBa AG as saying.
Brzeski added that “even though on the eve of the first round of the French elections a good portion of caution is recommendable, evidence is piling up that the euro-zone economy could become the positive growth surprise of the year.”