Index shows expansion in the industrial sector
In December 2013 the index of business activity in the EU rose to a 31-month high and reached 52.7, as reported by Investing.
This figure indicates a change in manufacture - new orders, increase or decrease in output, headcount, supplies and goods. If the index falls below 50 points, this means slower economic growth, while if it rises above, the industry grows.
Markit marketing group reported that in comparison with November, the December index increased by 1.1 points up to 52.7. Analysts had expected the index to exceed 51.9.
Chris Williamson, chief economist at Markit, commented that increased business activity index indicates a slight increase in GDP in the last quarter of 2013 by 0.2%. Yet, the European economy remains unstable.
