Eurozone business activity remained buoyant in May -PMI

LONDON

Businesses across the Eurozone maintained April’s blistering growth rate this month as firms struggled to meet growing demand, suggesting the bloc’s economic momentum is sustainable at least for now, a survey showed.

IHS Markit’s Eurozone Flash Composite Purchasing Managers’ Index for May, seen as a good guide to growth, matched the previous month’s 56.8, its highest since April 2011. A reading above 50 indicates growth. Data pointing to a broad-based expansion alongside rising price pressures and a record level for Ifo’s German business morale index will be welcomed by policymakers at the European Central Bank.