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Businesses across Europe have been increasingly volatile in terms of efficiency and effectiveness over the years, leading to a slowdown in mobility and inflation, according to a research study.
Eurozone business activity grew at a rapid pace in 15 June after job creation plans were scrapped, while UK business remained strong, according to the IHS Markit index of consumer managers published Wednesday.
IHS Markit euro figures around PMI two to 59.2 in June, from 57.1 in May, is the highest since June 2006 and higher than expected by economists. More than 50 counts show that most businesses report growth from last month.
The German PMI achieved 60.4 years, while the French PMI achieved 57.1. The UK’s temporary PMI was 61.7, lower than the 62.9 reported in May but among the highest since the list began in 1998.
The results of this study show that much of Europe’s economy will re-emerge as a strong supporter in the second quarter from corruption that took place last year. He confirmed the latest statistics high-frequency data showing European consumers flocking to bars and restaurants, booking vacations and going back to work.
“People [eurozone PMI] the data have established events of incredible growth for [gross domestic product] in the second quarter, followed by strong growth in the third quarter, “said Chris Williamson, chief financial officer at IHS Markit.
Nadia Gharbi, an economist at Pictet Wealth Management, said: “Now is the time to move beyond the euro business, even if it is no bigger than the PMI which is important but the advice.”
However, forcing the rise in prices is becoming a major issue as manufacturing and service companies are said to be offering additional revenue to customers at an unprecedented rate.
The IHS Markit said euro businesses are showing a significant backward increase in their operations since data collection began in 2002, as food shortages spread from production to labor, where revenues increased more than 20 years.
It was a similar picture in the UK, where commodity prices rose for the fifth consecutive month, which corresponds to the most recent increase in inflation, and inflation reached a longer period in the next two months.
Williamson predicted “pressure to increase inflation in the coming months”, adding that many companies “are struggling to meet demand, lack of resources and labor”.
The rise in prices has already exceeded the targets of the European Central Bank and the Bank of England, at 2% in the eurozone and more than in the UK. But both banks say they expect inflation to be temporary and end next year.
Businesses operating in the bloc also reported a sharp rise in employment and “rising retail prices, rising fuel prices and transportation, combined with wage demands”, says the IHS Markit. Prices for goods and services “went up at an unprecedented rate”.
But in Germany there were indications that trade deficits could be mitigated “after a brief fall in businesses that report long-term on goods and services”.
According to the IHS Markit survey, a rapid increase in employment has prompted companies in the UK to recruit more workers in the recent history, while euro companies are adding more workers on a large scale since August 2018.
Jack Allen-Reynolds, an economist at Capital Economics, said: “The search for jobs has grown exponentially as major financial sectors have opened up at once, and this is not going to be difficult.”
The PMI survey was published around 10 days before the last PMI, and included about 80% of the total responses.
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