A decrease in the economic performance of the euro area

A less than expected decrease occured in the economic performance of the euro area, but the preliminary data of the Purchasing Managers Index (PMI) is standing in July on its lowest value of the past one and a half years – the survey of the London-based Markit Economics reveals.

According to the survey of the Markit Economics published on Friday, the preliminary value of the
euro area’s manufacturing Purchasing Managers' Index (BMI) became lower than expected and the previous month. The service industry index declined slightly compared to the previous month but better was expected.

The manufacturing PMI was dropped to 51.9 points in July from the 52.8 points of the previous month. Analysts expected 52.0 points. (MTI)