Tentative signs of eurozone recovery - by Andrew Willis
Although the 16-member euro area is still very much in the throws of its worst recession since World War II, some positive data suggest the end may be in sight. The purchasing managers' index – an indication of future activity in the areas of services and manufacturing – jumped from 38.3 to 40.5 points in March, giving rise to hope that the green shoots of recovery seen elsewhere in the world may be spreading to Europe. The new figures, compiled by research group Markit and released on Thursday (23 April), are still well below the 50-point threshold that marks an increase in economic activity. But the new data for March show the rate of economic decline has slowed to the lowest level seen in the last six months and exceed economists' prior predictions of a rise to 39 points. Analysts responded positively to the news.
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