Euro Zone Business Rebounds Amid Global Challenges
Manufacturing drove the composite reading to 51.2, while services stayed in contraction and analysts said the euro zone still faces weak growth.
- On Friday, the Euro zone Composite PMI Output Index rose to 51.9 in July, signaling an expansion as Germany returned to growth for the first time in four months.
- Manufacturing output hit a 52-month high while services recovered to a five-month high of 51.6, following economic measures unveiled by Chancellor Friedrich Merz earlier this month.
- Chris Williamson, chief business economist at S&P Global Market Intelligence, said July data indicates GDP growth at a "reasonably solid 0.3% quarterly pace," though geopolitical risks persist.
- The European Central Bank left its key deposit rate at 2.25% this week, as easing output price inflation offers potential relief from borrowing pressures.
- Despite the positive data, the Middle East conflict continues to weigh on the euro zone economy, leaving Europe's largest economy on track for another year of lackluster expansion.
25 Articles
25 Articles
Eurozone Business Activity Rebounds After 4-Month Slump
Eurozone business activity rose for the first time in 4 months, according to an S&P Global survey released on Friday. The eurozone private sector returned to growth in July, it said, adding that data from its Purchasing Managers’ Index (PMI) had risen from 50.0 to 51.9 this month. A PMI below 50 indicates that the manufacturing sector is in contraction. S&P Global said that despite inflationary pressures easing (but remaining pronounced), a “hig…
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Euro Zone Business Rebounds Amid Global Challenges
Euro zone business activity showed growth in July after four stagnant months, driven by new orders. The S&P Global Flash Euro zone Composite PMI Output Index climbed to 51.9, the highest in five months. Despite geopolitical tensions and inflation, the region's economy is showing signs of momentum.
German Private-Sector Activity Unexpectedly Returns to Growth
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