Euro zone business boom roars on in August

Businesses are reopening and people are heading back to the shops.

And that had the euro zone economic rebound roaring along in August.

Monday (August 23) saw the closely watched Composite Purchasing Managers' Index for the region hit 59.5.

That was slightly down on the month before, but still way above the 50-point mark that signifies expanding activity.

Survey compiler Markit said the numbers pointed to 'impressive momentum'.

There was certainly encouraging news for job seekers.

Over the month firms increased their headcount at a near-record pace.

The employment index held at 56.1, its highest for 21 years.

It was a similar story for manufacturing.

The PMI for that sector sank slightly to 61.5, but that's still far into expansionary territory.

Inflation remains the concern.

Though the input prices index did dip slightly, it remained close to the record high posted in July.

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