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European growth reaches six-year high

Optimism in Europe is good news for Danish export companies, says the Confederation of Danish Industry.

Private sector output is growing at the fastest pace in six years in Germany, France and the eurozone, suggests new PMI survey data from IHS Markit.

“Optimism is surging in European business, and according to purchasing managers, the private sector is growing at the fastest pace in six years. The European economy has accelerated in the second quarter, thus continuing the last four years of prosperity. It is very encouraging that European recovery is still on track and that the uncertainty that continues to dominate has not impaired growth or our confidence in the future,” says Senior Analyst Allan Sørensen, the Confederation of Danish Industry.

“Both European businesses and consumers are optimistic. In May, consumer confidence in the eurozone rose to the highest level in ten years, and prospects for ongoing growth in European consumption are good. Employment is rising, real wages are increasing, and interest rates are low. This improves possibilities for consumers,” says Allan Sørensen.

“European optimism is promising for Danish export companies, whose annual sales revenue on European markets totals 600 billion kroner. For export companies, a strong European economy and a well-functioning single market are crucial,” says Allan Sørensen.
European optimism is promising for Danish export companies, whose annual sales revenue on European markets totals 600 billion kroner.
SENIOR ANALYST ALLAN SØRENSEN, THE CONFEDERATION OF DANISH INDUSTRY
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PUBLISHED: 5/31/2017 LAST MODIFIED: 5/31/2017