The Eurozone economy picked up momentum in November as companies boosted hiring at the fastest pace in 17 years to work through their backlog of orders.
A Purchasing Managers’ Index for manufacturing and services rose to 57.5 in November from 56 in October, according to IHS Markit. That’s the highest level in 79 months and above economists’ forecast for an unchanged reading. The Eurozone economy is on track for its best annual performance in a decade. Supported by monetary stimulus from the European Central Bank, the 19-nation bloc has seen unemployment drop from a record and is enjoying its most synchronised expansion since before the single currency was founded. (Bloomberg)