Euro zone business activity expanded by more than expected in the second quarter, according to the latest PMI figures released on Thursday.
IHS Markit’s final Composite Purchasing Managers’ Index (PMI), one of the most important indicators of growth, rose to a six-year high of 56.8 in April. This is a rise from March’s figure of 56.4 and above initial expectations of 56.7.
Chris Williamson, chief business economist at IHS Markit, said:
“The PMI surveys portray an economy that is growing at an encouragingly robust pace and that risks are moving from the downside to a more balanced situation.”
The figure echoes that of Euro zone manufacturing figures released earlier this week, where growth also hit a six year high.
