Euro area economy stabilized in August

[tocqueville]

Source: AP

ri Aug 21, 6:39 am ET

LONDON – Further evidence emerged Friday that the 16 countries using the euro are on the verge of growing again following the most savage recession since the Second World War.

Financial information company Markit said mounting optimism helped its composite purchasing managers' index — a broad gauge of business activity — for the euro zone rise by a record three points in August to 50.

The increase suggests that economic output in the euro zone has at least stabilized — 50 marks the inflection point between expansion and contraction.

Markit suggested the services sector is nearly growing again. Its PMI swelled to 49.5 in August from 45.7 in July. And the manufacturing sector looks to be on the mend too — its PMI increased to 47.9 from 46.3.

Read more: http://news.yahoo.com/s/ap/20090821/ap_on_bi_ge/eu_eu_economy

[WriteDown]

1. I've always thought that it may be time for the Amero. nt .

[DavidDvorkin]

2. No, it's time for Canada to join the EU

Which would then change its name to the Northern Union.

It's time for the Nuro!

[WriteDown]

3. Maybe Canada and Hawaii can join together and create....

the Churro.

[DavidDvorkin]

4. Certainly catchier than Euro or Nuro.