Eurozone economic activity grows at strongest pace in more than two years

VTV.vn - Economic activities in the Eurozone are showing positive signs.

Eurozone economic activity grows at strongest pace in more than two years

Economic activity in the Eurozone is showing positive signs, with the purchasing managers' index (PMI) hitting 52.5 points in October - the highest in more than two years.

This also marked the 10th consecutive month of growth for the Eurozone PMI index and continued to consolidate above the 50-point mark - the threshold indicating business expansion. The upturn was mainly in the services sector, with the PMI reaching a 17-month high, while the manufacturing sector also grew for the 8th consecutive month and reached the expansion threshold.

Among member economies, Spain led the way with a PMI of 56, its best in 10 months, while Germany showed surprising strength with a PMI of 53.9, its highest in nearly 2.5 years. Italy and Ireland also recorded solid growth at 53.1 and 53.7 respectively. Meanwhile, France remained the only major Eurozone economy in contraction territory, with its PMI falling to an eight-month low of 47.7.

Growth in the services sector also helped the overall jobs market accelerate to a 16-month high as service firms ramped up hiring to meet rising demand, although manufacturers continued to cut jobs at a faster pace.

Source: https://vtv.vn/hoat-dong-kinh-te-eurozone-tang-truong-manh-nhat-trong-hon-hai-nam-100251106091934196.htm