Business activity in the eurozone accelerated thanks to growth in the services sector and a recovery in manufacturing.
In July, business activity in the eurozone exceeded expectations, reaching an 11-month high. According to the preliminary composite PMI index from HCOB and S&P Global, the indicator rose to 51.0 points against 50.6 in June, which indicates moderate economic growth due to a confident recovery in the services sector and a gradual revival in industry.
