(London, UK – 1:18 P.M.) According to a key survey, job creation in the Eurozone is at its best level in nearly a decade. Furthermore, in March, 2017, Eurozone businesses grew at their fastest rate in nearly 6 years, with Germany and France leading the way. Their services sectors performed especially well.
The monthly Markit Composite Purchasing Manager’s Index (PMI) was 0.7 points higher in March relative to February. The figure currently stands at 56.7 (a value above 50 indicates growth.)
Chief Business Economist at IHS Markit, Chris Williamson said “The Eurozone economy’s throttle opened further in March, with business activity and hiring surging higher. Perhaps the best news came from France, where growth has risen above that seen in Germany, led by strengthening domestic demand.”
Other Eurozone economies, such as Greece, are still struggling with high levels of unemployment, especially among younger segments of the population.