Despite concerns over a Greek exit, survey finds eurozone recovery gaining steam in June
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The recovery across the 19-country eurozone economy appears to be firming despite fears over a Greek debt default and exit from the euro.
Financial information company Markit says its purchasing managers index for the eurozone — a broad gauge of business sentiment — rose to a 49-month high of 54.1 in June from the previous month's 53.6. Anything above 50 indicates expansion.
Markit also says Tuesday that the upturn took the second-quarter average to its highest level for four years and points to quarterly economic growth of 0.4 percent.
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Markit chief economist Chris Williamson says the eurozone is "weathering the Greek storm relatively well."
Following a summit of eurozone leaders Monday, hopes are high that a deal with Greece will emerge in the coming days to prevent a default.