Eurozone growth hopes reinforced by strong survey

Economic IndicatorsAssociated Press

A closely watched survey is showing that the eurozone economy, made up of the 19 countries that use the euro currency, has ended the third quarter on a strong note, in a development that further reinforces hopes about the state of the region's recovery.

Financial information company IHS Markit says Friday that its main gauge of the eurozone's business activity — the so-called purchasing managers' index — jumped to a four-month high of 56.7 in September, a whole point above the previous months' rate.

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The firm's chief business economist Chris Williamson says that points to a high quarterly economic growth of 0.7 percent, "with accelerating momentum boding well for a buoyant end to the year."

However, he said the stronger euro was cited as a source of concern for manufacturers.