Reference News Network reported on March 7 British media said that a more optimistic survey on the Eurozone economy released on the 5th showed that the region may be stabilizing after suffering in recent months.
According to the British Financial Times website reported on March 5, in February of this year, IHS Markite's Eurozone comprehensive purchasing managers index rose to 51.9, higher than the preliminary reading of 51.4 and the reading of 51 in January. The index is based on surveys of service industry and manufacturing executives. The improvement in this closely watched indicator was mainly due to the good performance of the service industry. In contrast, IHS Markit said the manufacturing sector continued to be weak.
The report said that in recent months, the euro zone economy has encountered a series of headwinds, including a slowdown in global economic growth to US-China economic and trade frictions. Before the European Central Bank made a monetary policy decision on the 7th local time, the sign that the euro zone economy is stable is an optimistic signal.
Angel Talavera, an economist at Oxford Economics, said: The Purchasing Managers Index released today gives us some hope that Europe's economic activity has finally bottomed out. He also said that the data confirmed that the economy in the region is recovering, and the more export-oriented manufacturing sector is still struggling. We have witnessed this situation for quite some time.
As far as France is concerned, the revised Composite Purchasing Managers Index has been raised. The index shows that the economy has expanded slightly, rather than showing an economic contraction like the original reading.
IHS's survey of Germany shows that the good performance of the service industry in the largest economy in the euro zone has improved the country's economic prospects, despite rising inflationary pressures and rising costs. Germany's comprehensive purchasing managers' index was revised from 52.7 to 52.8, a record high in four months.