London — Evidence built on Friday that the sturdy improvement in eurozone economic growth touted by the European Central Bank (ECB) is in place — albeit with some wobbles. Cruising speed, not acceleration, Morgan Stanley economists said. Surveys of purchasing managers’ plans in the eurozone, Germany and France all indicated steady growth, if not perhaps as much as some economists had expected. The broadest of the managers’ surveys — IHS Markit’s June flash purchasing managers composite index for the eurozone — dipped to 55.7 from 56.8 in May. This was lower than anyone in a Reuters economists’ poll had predicted, but still way above 50, the level Markit says divides expansion from contraction. "Businesses experienced the strongest quarter in six years," Bert Colijn, ING senior economist for the euro zone, said in a note. "With just a week to go in this quarter, all signs are pointing towards a strong [growth] reading." At the country level, the most significant development may have ...
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