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Eurozone – Eurozone beats strongest economic growth since News

Tuesday, September 5th, 2017 | Economy

The corporate mood in the euro area has stagnated at a high level in August. According to the Institute IHS Markit on Tuesday, the purchasing managers' index he surveyed as at the previous month was 55.7 points.
The upturn in August was just as strong as in July, according to the purchasing managers index for industry and service providers of the research institute IHS Markit. With 55.7 points, the barometer published on Tuesday remains clearly above the growth threshold of 50 meters. After the rapid recovery in the spring, the Eurozone had hardly lost momentum, said Markit chief economist Chris Williamson. The monetary area is on its way to increasing the gross domestic product by 2.1 per cent in the year as a whole.
"The economy is likely to grow this year as strong as it has been since 2007. And the general sentiment is growing further, which is the best conditions for the ECB to normalize its monetary policy," said Chief Economist Jörg Zeuner from KfW. But this required a long breath. Like many other ECB observers, like many other ECB observers, the European Central Bank is of the opinion that the European Central Bank will probably not make a decision at its interest meeting on Thursday on the future of its securities purchases, which are particularly controversial in Germany, which will boost the economy and ensure higher inflation want.
According to ECB CEO Mario Draghi, the program will be discussed in the autumn. It is currently the sharpest sword of the currency. They are aiming at an inflation rate of just under two percent, which is regarded as ideal for the economy. However, with a value of last 1.5 percent, this target is still relatively remote. According to a Reuters survey, most economists are currently assuming that the ECB will not fully buy the securities purchases until the end of 2018.
Strong inflation in Great Britain
In the UK, on ​​the other hand, the central bank has to deal with a sharp rise in inflation, which at the end of 2006 was well above the target of 2%. One of the main reasons for this is the pound decline following the Brexit vote of the summer of 2016, which makes import goods more expensive. As wages do not keep pace with inflation, the purchasing power of the British is diminishing.
This is also reflected in the particularly important service sector on the island. The corresponding Purchasing Managers' Index fell by 0.6 to 53.2 points in August, according to IHS Markit. It is the lowest level since September 2016, a few months after the anti-EU referendum. Economists surveyed by Reuters had expected 53.5 counts for August. In the second quarter, the gross domestic product in the world's fifth largest economy grew by 0.3 per cent, only half as strongly as the eurozone.
(Reuters)

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