The economic growth in the Eurozone hitting its highest level in almost seven years was attributed to near-record expansion of manufacturing production and the steepest increase in service sector activity in over six-and-a-half years, according to MET Newswires.
IHS Markit revealed that its purchasing manager index spiked to 58.1 in December from the previous month’s 57.5, according to the Associated press. The Eurozone economy has withstood headwinds, largely heightened political risks in an election packed year, and managed to push through solid growth for 2017.
“A stellar end to 2017 for the eurozone rounded off the best year for over a decade, continuing to confound widely-held fears that rising political uncertainty would curb economic growth,” Chris Williamson, IHS Markit’s chief business economist, told the Associated Press.
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