The euro zone's activity is posting its best record since the start of the war in Iran
The global PMI index stood at 52 points in July, two points more than the previous month, driven by the services sector.
Eurozone activity appears to be emerging from the dip caused by the war in Ukraine. The global PMI index, which measures private sector performance, stood at 52 points in July, two points more than in June, according to the indicator published this Wednesday by S&P Global and Hamburg Commercial Bank (HCOB). This figure means that the eurozone returned to expansionary territory for the first time since March, standing above 50 points and reaching its highest level since the start of the war in Ukraine on February 24.
In that month, the indicator reached 51.9 points, a figure that it has not exceeded again until the start of the third quarter, driven by good service data and the "sustained and accelerated increase in manufacturing production," analysts say.
Translated by urgent.news. Machine-written — may contain errors; check the original before relying on it.
