Euro lifted by strong German and French PMIs

Euro lifted by strong German and French PMIs

The Markit/Nikkei Japan Manufacturing flash Purchasing Managers Index (PMI) rose to 53.8 in November on a seasonally adjusted basis from a final reading of 52.8 in October. The benchmark level is 50 at which economic expansion begins.

Businesses in the eurozone registered significant growth in November, showing key research, while job creation has reached the fastest pace in 17 years and economic recovery in Europe has gained momentum, reports sega. Its index rose above 60 for the first time since 2011 and hiring has picked up pace. It was an 81 month high. "New export orders expanded at the fastest pace in nearly four years", said Joe Hayes, economist at HIS Markit, which compiles the survey. A combination of strong demand and labour market reforms continues to drive employment growth. That would be welcome news to the European Central Bank, which has enacted a series of stimulus measures over the past few years to get inflation up to its goal of just below 2 percent.

Germany's composite PMI for both services and manufacturing rose to 57.6 in November, from 56.6 in the previous month.

Alex Gill at IHS Markit said: "The party goes on for the French private sector economy".



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