Eurozone: Strongest Growth Rates in Two Years

Politics ♦ Published: August 22, 2013; 12:44 ♦ (Vindobona)

The Eurozone continues to recover. Businesses in industrial production and in the service sector increased to a new high in more than two years. However, growth in both sectors is still not enough for the creation of new jobs.

Eurozone: Strongest Growth Rates in Two Years / Picture: © Wikimedia Commons [CC0 1.0] / Pixabay [CC0 Creative Commons]

The private sector’s Purchasing Managers' Index (PMI) increased by 1.2 to 51.7 points, according Markit institute, which carried out a survey among more than 4,000 enterprises. Economists had only estimated a value of 50.9 points.

The economic barometer exceeded the value of 50 points, which signals growth, for the second consecutive month. Before, there were 17 months of…