Continued growth for European firms

Euro.Euro.Photo: pixabay.com

October became the provisional strongest month of the year for business activities in the Eurozone despite what happened between Britain and Europe.

Purchasing Manager Index (PMI) increased to 53.7 points in October from 52.6 in September based on the latest figures from research company IHS Markit.

The result is the highest so far this year and is largely due to growth in German companies.

A level above 50 indicate increasing production, while a lower level is an indication of declining activities.

The figures indicate that companies in the Eurozone have avoided being affected by the Brexit as well as the downturn in global trade.

It is expected that the economies of the 19 countries in the Eurozone will grow by 0.4 percent in the fourth quarter, compared with 0.3 percent in the second quarter.

 

Source: NTB scanpix / Norway Today

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