Publish date:

European Economic Activity Surges to 6-Year High

European private sector economic activity surged to its fastest pace in nearly six years as factories in Germany fueled job creation and France's service sector boomed.

European private sector economic activity surged to its fastest pace in nearly six years, according to data published Tuesday by IHS Markit, as factories in Germany fulled job creation and France's service sector boomed.

IHS Markit Economics composite reading of Eurozone growth rose to 56.0 in February, up from 54.4 in January and the highest reading since April 2011. Readings above 50 generally indicated economic growth. Markit's measure of manufacturing activity rose to 57.2, another 70-month high (up from 56.1 in January) while the pace of activity in the services sector jumped to 55.6 from a previous reading of 53.7.

TheStreet Recommends