Markit Survey: The euro area’s economic performance rose moderately in July

By: Trademagazin editor Date: 2020. 08. 05. 11:05

The euro area private sector performance has risen for the first time since the outbreak of the coronavirus pandemic in February, although the upturn in the service sector, which plays a key role in the economy, was less steep than expected, according to a survey by London-based financial and economic data group IHS Markit.

According to the final data released on Wednesday, the composite Purchasing Managers ’Index (PMI) for the euro area, based on manufacturing and services data, rose 54.9 points from the 48.5 points in June. The final value exceeds the pre-forecasted data, when analyst-expected 54.8 points. It has not been as strong since June 2018. (MTI)