Euro area private sector expanded at the fastest pace in 21 years in July, as the member countries eased COVID-19 restrictions, flash survey results from IHS Markit showed on Friday. At 60.6, the composite output index hit a 252-month high in July, up from 59.5 in June. The services activity grew the most in 15 years, while growth in manufacturing moderated to a four-month low due to worsening supply lines. The services Purchasing Managers Index advanced to 60.4 from 58.3 in June. The score was forecast to climb to 59.5. On the other hand, the factory PMI dropped to 62.6 from 63.4 in the previous month. The reading was expected to fall to consensus 62.5.
Powered by Commodity Insights