Euro zone output growth may be 'peaking'
Monday, 23 November 2009 11:11Private sector business activity across the euro zone grew at the fastest rate for two years in November, but sent signs that growth may be 'peaking', a survey showed today.
The purchasing managers' index (PMI) for the 16 countries using the euro, compiled by data and research group Markit, rose to 53.7 points from 53 points in October. In August, it had ended 14 months of decline.
'We also saw the first signs of growth peaking, with the new orders index falling for the first time since it hit a record low in February,' Markit chief economist Chris Williamson said.
The latest figures were well above the boom-bust line of 50 points - a reading below 50 indicating a contraction - but sustained job haemorrhaging was highlighted.
Manufacturing increased for the fourth month in a row, with the services sector recording a third successive rise in output.
