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Eurozone recovery ‘gathering speed’

Germany, Europe’s largest economy, continues to spearhead the growth. Above, a container ship in Hamburg.
Germany, Europe’s largest economy, continues to spearhead the growth. Above, a container ship in Hamburg.MAURIZIO GAMBARINI /EPA/file

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Further evidence emerged Monday that the economic recovery across the 18-country eurozone is accelerating and spreading to the bloc’s debt-laden laggards.

The financial information company Markit, which publishes a closely watched monthly survey of economic conditions, suggested the recovery is running at near a three-year high. It is forecasting quarterly economic growth of 0.5 percent, which equates to an annualized increase of a little more than 2 percent. In the fourth quarter of 2013, the eurozone grew by a quarterly 0.3 percent.

The forecast will help ease worries that the recovery isn’t gaining traction. The eurozone emerged from its longest-ever recession last spring.

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