The eurozone economy ended 2015 on ‘a positive note’ according to Markit, with the rate of expansion in output rising to a four-month high and growth over the final quarter as a whole being at its quickest in four-and-a-half years.
The expansion was ‘broad-based’, with December seeing activity rise across Germany, France, Italy, Spain and Ireland.
The eurozone composite PMI rose to 54.3, up from 54.2 the previous month. Readings above 50 indicate an expansion of activity with under 50 meaning contraction.
“The eurozone economy starts 2016 on a solid footing and well placed to enjoy a year of robust expansion,” said Williamson. Growth of business activity continued to edge higher at the end of 2015, with an upturn in the PMI rounding off the strongest quarter for four and-a-half years.”
“It’s particularly encouraging to see firms taking on staff in increased numbers, suggesting that businesses are preparing for stronger demand in the coming year by boosting capacity,” he continued. “However, despite the improvement, the survey data signal a modest 0.4% increase in GDP in the fourth quarter, which would mean the eurozone grew 1.5% in 2015.”
