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Eurozone on the road to recovery


economy

Eurozone on the road to recovery

The eurozone recovery is growing stronger according to the influential poll of purchasing managers.

The report delivers figures of a four year high for the zone.

The French manufacturing sector has been singled out for praise and low oil prices have helped.

Mike Ingram is market strategist for BGC:
‘‘For a number of years the ECB was effectively asleep at the wheel and helped to drive the euro zone into something a deflationary funk. The two biggest factors have been the decline in oil prices and the decline in the euro, those are really the two biggest drivers of the improvement in the euro zone economy over the last 12 months.’‘

The economies of Austria, Italy,Spain the Netherlands, Ireland, and Greece also showed improvements.

It is estimated that the region is on track to expand by 2 percent later this year.

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