Eurozone economy picks up pace

BRUSSELS: Eurozone business activity hit a four-and-a-half year high in November, helping create much-needed jobs in a broad-based upturn despite the impact on France of the Paris attacks, a key survey showed Monday.
Data monitoring company Markit said its closely watched Composite Purchasing Managers Index rose to 54.4 points from 53.9 points in October, putting it well above the 50-point boom-or-bust line. Markit said "employment, new orders and backlogs of work indicators all signalled the strongest monthly expansions in four-and-a-half years."
"The survey data also highlighted the broad-based nature of the upturn."
Markit chief economist Chris Williamson said in the statement that the report was encouraging overall but noted the impact on France of the November 13 Paris attacks which left 130 people dead. "The improved performance in terms of economic growth and job creation seen in November are all the more impressive given last weekend´s tragic events in Paris, which subdued economic activity in France -- especially in the service sector," Williamson said.
For France, the Composite PMI fell sharply to 51.3 points, a three-month low, from 52.6 in October, Markit said in a separate report.