The Latest: Easing of Greece fears helping eurozone economy

September 3, 2015 at 4:38 a.m. | Updated September 3, 2015 at 4:45 a.m.

by Associated Press

FILE - In this Tuesday, Feb. 24, 2015, file photo, Mario Draghi, president of the European Central Bank, stands next to a facsimile of the new 20 euro banknote in Frankfurt, Germany. Analysts are already talking about when and how the European Central Bank might extend its 1.1 trillion euro ($1.2 trillion) stimulus program that has been running for the past six months in an attempt to boost the modest recovery in the 19 countries that use the euro. (AP Photo/Michael Probst, File)
FILE - In this Tuesday, Feb. 24, 2015, file photo, Mario Draghi, president of the European Central Bank, stands next to a facsimile of the new 20 euro banknote in Frankfurt, Germany. Analysts are already talking about when and how the European Central Bank might extend its 1.1 trillion euro ($1.2 trillion) stimulus program that has been running for the past six months in an attempt to boost the modest recovery in the 19 countries that use the euro. (AP Photo/Michael Probst, File)

FRANKFURT, Germany (AP) - The latest on the European economy as the European Central Bank meets to discuss its monetary policy (all times local):

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10:25 a.m.

Waning concerns over a Greek exit from the euro appear to be shoring up the economic recovery across the 19-country eurozone despite renewed uncertainty over the global economy, according to a closely-watched survey.

Financial information company Markit says its monthly composite purchasing managers' index - a gauge of economic activity - rose to a four-year high of 54.3 points in August from 53.9 the previous month. The increase was also larger than the initial estimate for a more modest rise to 54.1. Anything above 50 indicates expansion.

Chris Williamson, Markit's chief economist, said the calming of so-called Grexit fears "has led to an improvement in the business environment across the eurozone."

Williamson said the indicator suggests that the eurozone is growing at a quarterly tick of 0.4 percent in the third quarter.

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