Eurozone business activity expanded at its fastest pace in nearly two-and-a-half years in September, with strong demand helping the economy withstand rising inflation concerns linked to the war in the Middle East, a private survey showed, Reuters reported.
According to Reuters, the stronger activity came even as inflation in the eurozone accelerated more than expected to 3.8% in September from 3.2% in August, driven largely by soaring energy costs. The increase has heightened expectations that the European Central Bank could keep interest rates higher for longer.
