BRUSSELS, May 23 (Xinhua) -- The 19-member Eurozone's economy was expected to enjoy strong growth in the second quarter, supported by its business sector maintaining record-high level of activity, a survey showed Tuesday.
The Composite Purchasing Managers' Index (PMI) across the single currency zone stayed unchanged on April's 56.8 this month, well-above the boom-or-bust line of 50 and marking its highest level since April 2011, according to data monitoring company Markit.
The reading signified that Eurozone economic growth would continue to run at its fastest for six years, with no doubt welcoming to the bloc which has seen years of subdued recovery since the aftermath of the debt crisis.
Job creation also perked up to one of the strongest recorded over the past decade amid improved optimism about future prospects. Price pressures meanwhile remained elevated, albeit with some easing in input cost inflation, said Markit.
Germany, the bloc's powerhouse, painted an even more positive picture as business climate indicator witnessed a record high of 114.6, according to a survey released by the Munich-based Ifo economic institute on the same day.
The strength of both the Eurozone Composite PMI and the German Ifo in May provided further evidence that the economic recovery gained pace in the second quarter, said a research of the Capital Economics.
Economists argued that Tuesday's figures may well strengthen calls for monetary policy normalisation from Germany, but with underlying inflation still weak in the Eurozone as a whole, the European Central Bank was expected to hold on interest rates at least until 2019.
