The euro zone’s battered economy is probably recovering but the gulf between its two biggest members is widening, according to a survey on Tuesday that showed business optimism in the bloc at an eight-month high.
Markit’s Euro zone Composite PMI, based on business activity across
thousands of companies, and a good gauge of economic growth, rose in January to a 10-month high of 48.6 from 47.2 in December — an improvement on the preliminary reading of 48.2.
While still below the 50 mark that divides growth and contraction, where it has been since February last year, it has risen for the third straight month.
Private industry makes up nearly two-thirds of the euro zone’s economy.