…as surveys highlight two tier economy in Eurozone

first_img GROWTH in the Eurozone’s economy has accelerated this month despite escalating fears over sovereign debt in several member states.An initial index reading of business output came in at 57.8 for April, up from 57.6 in March and the second highest since June 2007.All scores over 50 in the purchasing managers’ index (PMI) indicate economic expansion.“The April survey is consistent with GDP rising at a quarterly rate of 0.8 per cent, the same buoyant pace as signalled for the first quarter,” said economist Chris Williamson of Markit, which compiles the data.Job creation across the 17-country single currency area struck a three and a half year high, increasing in both manufacturing and services.However, yet again the positive figures were largely driven by the booming core economies. In?France, activity spiked from 59.1 to 62.4 – its highest since September 2000. In Germany the PMI printed 59.9. Elsewhere, growth “remained very modest in comparison, weakening to a three-month low,” the report said, highlighting a near stagnation in the service sector.Weak domestic demand is hampering growth in economies that do not have strong export sectors, the report said.Consumer confidence across the whole Eurozone took a further tumble this month, dropping to -11.4 from -10.6 in March, according to a preliminary EU reading released yesterday.“This is the second deterioration of consumer confidence in a row, now at levels seen in August 2010,” said Barclays Capital’s Françoise Cabau.Construction data was also released for the Eurozone yesterday, showing a 0.7 per cent monthly fall in February’s output after a 3.6 per cent spike in January. KCS-content Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsappcenter_img Show Comments ▼ More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comColin Kaepernick to publish book on abolishing the policethegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com …as surveys highlight two tier economy in Eurozone Tags: NULL Tuesday 19 April 2011 9:06 pmlast_img