The economic performance of the Eurozone decreased in July

By: Trademagazin Date: 2023. 07. 24. 12:19

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The economic performance of the Eurozone decreased more than analysts expected in July, according to the preliminary values of the Purchasing Managers’ Index (BMI) presented on Monday by the S&P Global Market Intelligence economic research institute in London.

The preliminary value of the composite BMI for July, which follows both manufacturing and service industry data, weakened to an eight-month low of 48.9 points from 49.9 points in June. Analysts expected a less deteriorating indicator, 49.7 points.

The preliminary July value of the service industry BMI dropped to a six-month low of 51.1 points from 52.0 points in June. Analysts expected 51.5 points.

The manufacturing BMI fell to 42.7 points, a 38-month low, from 43.4 points in June. Experts expected a more favorable June index of 43.5 points.