Eurozone economic activity contracted at its fastest rate in 8 months in July as the slowdown accelerated on the back of manufacturing cuts.
Data from the HCOB Flash Eurozone PMI published by S&P fell to 48.9 points in July, from 49.9 points in June.
Manufacturing remains a weak point in the Eurozone, where producers again cut production at an accelerated pace in July. The Eurozone economy will likely contract further in the coming months, as the services sector's momentum wanes.
Source (Al-Asharq Al-Awsat Newspaper, Edited)
