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Euro zone PMI beats forecasts, points to strong growth

The ECB will announce in October a six-month extension to its asset purchase programme

Reuters  |  London 

Euro zone private businesses ended the third quarter growing much more strongly than predicted, bolstered by manufacturers, according to a survey which showed the momentum should carry on into October. That energy, alongside rising inflationary pressures, is likely to increase expectations the European Central Bank will announce plans next month to reduce its monthly spending on quantitative easing. IHS Markit's euro zone Flash Composite Purchasing Managers' Index for September, seen as a good guide to economic growth, bounced to 56.7 from August's 55.7, comfortably ...

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First Published: Fri, September 22 2017. 17:34 IST