Eurozone output growth may be 'peaking' - survey

Private sector business activity across the eurozone grew at the fastest rate for two years last month, but sent signs that growth may be "peaking," a survey showed yesterday.

The purchasing managers' index for the 16 countries using the single currency, compiled by data and research group Markit, rose to 53.7 points from 53.0 points in October.

In August, it had ended 14 months of decline. Nevertheless, "we also saw the first signs of growth peaking, with the new orders index falling for the first time since it hit a record low in February," said Markit chief economist Chris Williamson.

The latest figures were well above the boom-bust line of 50 points - a score below 50 indicating a contraction - but sustained job haemorrhaging was highlighted.

Manufacturing increased for the fourth month running, with the services sector recording a third successive rise in output.