Eurozone Recoveries Pushes Composite Output Index to a 15-Year High

Source: IHS Markit

The Eurozone economy continued its recovery, with the Composite Output Index hitting a 15-year year high of 59.5 in June, from 57.1 in May.

EURUSD is up +0.01%, DAX is down -0.036%.

• The composite output in June was the fourth consecutive month the index has hit the 50.0 mark
• The jump in output index reflected growth in manufacturing output and an improvement in the service sector, whose expansion was the best since mid-2007.
• Growth in levels of incoming businesses was the best for 21 years
• New export business rose at a record phase since the series survey started in September 2014.
• Capacity constraints persisted, with backlog of work rising for the fourth consecutive month
• Staffing levels rose for the fifth consecutive month, hitting the highest level in over three years
• Inflation hit the highest since September 2000, with cost pressures becoming a concern for businesses
• Business optimism grew, with confidence outlook improving to a record during June since mid-2012.