Eurozone business activity grows at fastest pace in two years.

The eurozone composite PMI rose to 51.5 in August from 50.5 in July, indicating the fastest rate of expansion since 2011. The services index climbed to 50.7 from 49.8, representing the first increase in activity for a year and a half. "The eurozone recovery is looking increasingly broad-based," says Markit. Spain and Italy have joined Germany in returning to growth, while France's decline is far weaker than earlier in the year.