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I read that
g
rowth in 2013 is now
expected to be 1.5pc, nearly double its previous estimate of 0.8pc
with the Organisation for Economic Co-operation and Development
(OECD) stating of the UK is ‘expanding at an “encouraging rate”
having “picked up momentum through the first half of the year.’
Rise In Manufacturing
Signals Euro Zone Recovery


An increase in manufacturing activity is the latest
sign the euro zone economy is turning a corner, after the bloc
exited an 18-month recession in April to June quarter. The
improvement was led by Germany, where a gauge of the sector came in
at a 25-month high of 51.8 points. A reading over 50 signals
growth. Growth in Austria, the Netherlands and Ireland also ticked
up, helping drive the rise in factory activity across the euro area
to its fastest pace in more than two years, according to Markit’s
purchasing managers’ index.
Factory activity in Spain
expanded for the first time in more than two years in August, while
in Italy, the sector grew for the second month running after 23
months of contraction. Most key measures of growth – production,
new orders and new export business – picked up in
August.
In Europe, Markit’s Flash
Composite Purchasing Managers’ Index showed business activity
across the euro zone picked up at a faster pace than expected, with
the index bouncing to 51.7 from last month’s 50.5. August’s reading
was the highest since mid-2011. A reading above 50 shows
expansion.
 

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