FRANKFURT, Germany (AP) — A closely-watched survey has found business activity across the 18-country eurozone running at a three-year high, in perhaps the clearest sign yet that the economic recovery is gaining momentum. Analysts say Wednesday's positive data could take some of the pressure off the European Central Bank to take further steps to stimulate the economy at its next monthly policy meeting on May 8 despite stubbornly low inflation across the 18-country single currency zone. The ECB, in charge of monetary policy for the euro member countries, faces pressure to cut interest rates or take other measures to increase inflation toward its goal of just under 2 percent.
Europe Recovery Shows Signs Of Strengthening
By DAVID McHUGH, AP Business Writer, San Francisco Chronicle: World
Wed, 04/23/2014 - 4:41am
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