The growth of the activity index in the field of services gives hope for the upsurge of the EUROZONA economy

In the Eurozone, the business activity index in the service sector was expanded in August for the first time in nineteen months. This suggests that the economy of seventeen nations of the European currency bloc, led by Germany, emerged from a record long -term recession. Markit Economics said that the index based on a survey of procurement managers in August grew to 51 from 49.8 in July of this year.

Economists predicted its increase to 50.2. And the value above 50 indicates a certain growth. The gross domestic product in the eurozone grew by 0.3 percent for three months to June after six quarterly contractions. The companies implementing goods for the garden and the garden wholesale worked out. The expansion, first of all, was associated with the work of the two largest economies in the region such as Germany and France. At least four eurozons are still in recession, including Italy and Spain.

Frederick Ducroset, economist Credit Agricole Cib in Paris, said that "we saw some improvements in the last months, but we have to start from very low levels. And there is a good chance that the economy will gain momentum further in the second half of this year. We hope that the economy of Spain and Italy will be able to grow again."

The Markit eurozone production index has been showing the expansion for the second month in a row, rising in August to 51.3 from 50.3 months earlier. The consolidated index, covering the business activity of managers for supplying services and the factory exit, also shows the expansion for the second month in a row. He rose in August to 51.7 from 50.5 in July.

Arounding economic news from Europe followed the improved data from China, which unexpectedly showed the growth of production in August, adding the necessary signs to strengthen the second largest economy in the world after a decline in the second quarter. Preliminary data published by Markit and HSBC Holdings PLC indicate an increase in the index of supply managers in this country up to 50.1 compared to the final figure of 47.7 in July.