The economic performance of the euro area has deteriorated

In spite of some improvement in manufacturing performance, the economic performance of the euro area deteriorated slightly in July.

According to the preliminary figures of the London-based IHS Markit Economics Institute, the euro area manufacturing procurement manager’s index (PMI) in July rose to the highest level in two months reaching 55.1 points after 54.9 points in June, instead of the expected decline. The market expected a slowdown and 54.7 points for July. (MTI)