A survey reported by Jinshi shows euro area business activity reached an eight-month high in July, helped by a service-sector recovery and continued improvements in manufacturing. S&P Global's euro area composite PMI rose to 52 from a neutral 50 in June, the first reading in expansion territory since March. The services PMI advanced to 51.7 in July, the highest in five months, up from 49.4 in June.
According to Jinshi, as reported by ChainCatcher, a survey indicates euro zone business activity hit an eight-month high in July. Service-sector recovery and ongoing manufacturing improvement underpinned the gain. S&P Global's euro zone composite PMI rose to 52 in July, above June's neutral 50 and marking the first expansion since March. The euro zone services PMI climbed to 51.7 in July, a five-month high, from 49.4 in June.
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