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Euro area recovery best in four years

eumapThe eurozone economy was said to be in robust recovery mode last month.

The economic momentum continued during June and apparently was not dented by the chaos of one of its members, Greece.

Private sector growth and hiring were the best for four years, according to Markit, the closely followed survey of eurozone health.

The improvements were driven in most part by Germany and France.

Economic growth has led to a growth in employment, “with job creation running at its highest for four years in the past two months”.

Recovery has been aided by increased consumer spending. Analysts believe increased consumption was kicked off by lower petrol prices, but were continued thanks to employment and an increase in wages.

Other factors include the stimulus programme of the European Central Bank and low inflation.

But decisions about Greece could impact still on the region’s recovery.

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Comments  

-2 #2 Steven Roberts 2015-07-04 16:38
It was always an unintentionally hilarious suggestion by the French, amongst other Latino's, to insist a few years ago that the EU had its own ratings agency. To review market conditions and sector activity.

But with the sole intention of then politically interfering with the results ! Deciding what, if anything, was revealed and when. Making the necessary adjustments to look good.

So creating a bizarre parallel universe that held no interest to any of the professionals working with the elite VIP's investment portfolio's. Who understandably would keep using the valuations of the existing impartial surveyors and valuers. Anglo-Saxons ! Such as this one and the Fitch's and Moodys etc

So the idea died ....
-3 #1 dw 2015-07-04 09:42
From the Wikipedia Markit page it appears this $5billion company made huge profits from credit default swap pricing data during the subprime mortgage crisis. Most likely it's just another powerful player in the financial world pumping out reports and statistical propaganda that suit its own plans for increased profits. Of course the information is fed to us by the media as if it's impartial and independent.

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