6 days ago • 1:35 min
Data out on Tuesday suggested that the eurozone hit the ground running in 2023, with business activity growing unexpectedly this month.
What does this mean?
It’s January: the weather’s cold and the days are short, so you might expect us all to be united in our misery. But in Europe there’s a little holdout of optimism among purchasing managers, who responded to this month’s business activity surveys with unseasonably chipper answers. That stands to reason, too: an especially mild winter and badly needed government handouts helped to ease the region’s energy fears. Plus, companies’ confidence is swelling thanks to freshly freed-up supply chains and the fact that China’s re-opening is probably poised t