Eurozone economy hits ‘speed bump’ in July: survey

BRUSSELS

Eurozone private sector business activity slowed in July for the second month running but was still running near six-year highs, a closely watched survey showed on Monday.

IHS Markit said its July Composite Purchasing Managers Index (PMI) came in at 55.8 points, the lowest reading in six months and down from 56.3 in June. The PMI measures companies’ willingness to invest in their business and so gives a good idea of how well the underlying economy is performing. Any reading above the boom-bust 50 points line indicates the economy is expanding.