ECONOMICS COMMENTARY
Jul 24, 2013
Eurozone stabilises as PMI hits one-and-a-half year high
The Markit Eurozone PMI Composite Output Index rose above the 50.0 no-change level in July for the first time since January 2012, according to the flash estimate. The PMI rose for the fourth successive month, up from 48.7 in June to 50.4. Manufacturers reported the largest monthly increase in output since June 2011, registering an expansion for the first time since February of last year. Service sector activity meanwhile fell only marginally, recording the smallest decline in the current 18-month sequence and showing signs of stabilising after the marked rates of decline seen earlier in the year.
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