Euro zone business activity rises to 11-month high

A worker assembles a photovoltaic thermal collector on production line at Sunmaxx in Ottendorf-Okrilla Dresden, Germany. Business activity in the eurozone has expanded at the fastest pace for almost a year, indicating the region’s economy is emerging from its recent stagnation, according to a closely watched survey of companies.

The poll is likely to reassure officials at the European Central Bank that the euro zone is still on track for a “soft landing” as the economy avoids a recession while inflation falls steadily towards its 2 per cent target.The Smurfits boost their investment in Kirby’s Tixserve The euro zone PMI reading has risen for six months, signalling a rebound after the economy ground to a halt for most of 2023. Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, said the data suggested the euro zone had returned to quarter-on-quarter gross domestic product growth of about 0.3 per cent since the start of the year.

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