The eurozone continues to show continued growth, pointing to the recovery taking hold.
A survey of thousands of companies across the eurozone indicated that growth remained stable in March. It was conducted by the respected agency Markit whose reports are watched closely by economists.
Growth in March brings the region into nine months of continuous growth, the longest period of growth in three years.
Markit says this adds further evidence of good recovery in the ‘periphery’ countries, including Portugal. Concerns were flagged, however, about deflation developing, especially in the southern nations.
France, where growth had been faltering badly with five straight months of decline, showed the biggest improvement. It was the strongest rate of expansion for two and a half years.
Employment in the eurozone has also increased slightly for the second month, “providing the first signs of job creation since the end of 2011”, according to Markit.
Last year at this time there were steep job losses, so the current uplift in jobs points to a revival of business confidence.
