Eng
Growth in euro zone business activity stalled in July as a tepid expansion in the services sector failed to offset a deeper downturn in manufacturing.
HCOB’s preliminary composite Purchasing Managers’ Index, compiled by S&P Global, dropped to 50.1 this month from 50.9 in June, barely above the 50 mark separating growth from contraction.
The business activity index (PMI) covering the common currency policy area’s services sector fell from 52.8 to 51.9 this month.
The euro zone manufacturing PMI dipped to a seven-month low of 45.6 from 45.8 in June. The index measuring output dropped to 45.3 from 46.1.
With demand falling, the bloc’s factories reduced headcount at the sharpest rate since December – the employment index fell to 46.8 from 47.5.
Source: reuters.com