BRUSSELS, Sept. 22 (Xinhua) -- The 19-country Eurozone's business output hit a four-month high in September against consensus forecast of a small fall and pointed to strong growth in the third quarter, a survey showed Friday.
The single currency zone's manufacturing purchasing managers' index (PMI) reading went up to 56.7 in September from 55.7 in August, according to the preliminary flash estimate of data monitoring company Markit.
The index, well above the 50 boom-and-bust line, suggested that the Eurozone economy ended the third quarter on a strong note, with growth of business activity picking up to its highest since May to register one of the strongest gains seen over the past six years.
Inflows of new orders showed the largest monthly increase since April 2011, representing a renewed surge in demand after the pace of new order growth had slowed in the prior two months, said Markit.
The survey data point to 0.7 percent gross domestic product (GDP) growth for the third quarter, with accelerating momentum boding well for a buoyant end to the year, said Chris Williamson, chief business economist at Markit.
"The rise in business activity and accompanying build-up of price pressures will fuel expectations that the ECB (European Central Bank) is poised to announce its intention to rein back some of its stimulus, reducing its asset purchases in 2018," Williamson noted. Enditem
