Business activity in the Eurozone saw slight growth in July, slightly outperforming June’s performance; though the pace of expansion remained slow amid declining demand.
The Eurozone Composite Purchasing Managers’ Index (PMI), compiled by “S&P Global,” rose to 50.9 in July from 50.6 in June, below the preliminary estimate of 51.
July’s reading marked a four-month high but remained below the long-term average of 52.4, reflecting ongoing weakness in the 20-country Eurozone economy. The services sector saw slight expansion, with its PMI rising to 51, compared to 50.5 in June.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
