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Encouraging signs for euro zone business

Sunday, September 22, 2013 - 01:19

Sept 23 - Private business in euro zone experiences a better month than expected in September as new orders flood in, adding to evidence the global economy is healing. Hayley Platt reports.

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Germans have got every reason to celebrate - not just those enjoying the traditional Oktoberfest or those delighted about Merkel's election victory. Business is booming - latest data shows the private sector expanded at its faster rate since January, suggesting Europe's largest economy will grow again this quarter. Manufacturing slipped slightly but the service sector also powered ahead. Rob Dobson is from data provider Markit. SOUNDBITE: Rob Dobson, senior economist, Markit, saying (English): "Germany's always been led by its manufacturing sector, it's exports. But with emerging markets showing some slow down in the second half of the year, we've seen the service sector more domestic facing, taking up some of that strain, so it's a positive for Germany." Headlines in France were also dominated by Merkel's victory. But here too the economic picture was an improving one. France saw its first increase in business activity for 19 months - albeit an slight one. And across the euro zone new orders were at their fastest pace in almost two years, beating expectations. SOUNDBITE: Rob Dobson, senior economist, Markit, saying (English): "The numbers around France have been a bit bumpy recently but if it can hold it's head above water the that at least means it won't be a drag on the other nations in the bloc." Unemployment remains far too high in Europe. But the figures followed equally positive data from China, adding to evidence that the global economy is healing.

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Encouraging signs for euro zone business

Sunday, September 22, 2013 - 01:19