PMI: Eurozone business activity soars to 15-year high
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IHS Markit’s latest Eurozone purchasing managers’ composite output index rose to 60.2 in July (Photo by Rafael Yaghobzadeh/Getty Images)
The rapid rollout of Covid vaccines across Europe is fuelling consumer spending, helping to propel business activity in the Eurozone to a 15-year high, according to a closely watched survey released today.
IHS Markit’s latest Eurozone purchasing managers’ composite output index rose to 60.2 in July, driven by an acceleration in manufacturing growth and strong consumer spending in the services industry.
The vaccine rollout in Europe has gathered pace in recent months after a sluggish start, which has helped to dampen the severity of health implications from Covid infections.
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