May 19, 2020

Eurozone business far exceeds forecasts, German economy shining

Europe business
Eurozone growth
Eurozone economy
Europe forecasts
Johan De Mulder
1 min
Eurozone business far exceeds forecasts, German economy shining

A new survey has shown that the eurozone has far exceeded its growth expectations as 2018 draws to an end.

Servicing and manufacturing industries have gone beyond expectations and the growth in the bloc is showing no signs of abating, with further increases expected ahead of next year.

Germany and France's economies have shown particular strength, with factories in Germany rolling out more product in November than in any month in the previous seven years.

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In France, new labour reforms resulted in activity growing at it quickest pace since early 2011 - but for Britain, there was only moderate growth of 0.8%, though that figure did exceed the expected 0.5%.

"All in all, there are no signs of stopping the euro zone economy at the moment and 2018 is likely to start on a strong footing," ING's Bert Colijn told Reuters.

"With continued monetary support and some expected improvements in global growth in 2018, the euro zone economy is set for another year of surprising growth."

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