FXStreet (Mumbai) – The flash Markit PMI reports released today showed the Eurozone private sector activity fell to a two-month low, but still remained close to 4-year high in July.
The flash manufacturing PMI in July fell to 52.2 from 52.5 and the services PMI cooled to 53.8 in July from 54.4. Consequently, the composite PMI fell to a two-month low of 53.7 in July.
As per the official report, growth of incoming new business also slowed, easing to its weakest since February. The rate of job creation also dropped to the lowest since February. A weaker Euro and rising wages pushed the average input prices up for a sixth consecutive month.
As per Chris Williamson, Chief Economist at Markit, “The PMI suggests the Eurozone continues to enjoy its strongest performance in terms of both economic growth and job creation seen over the past four years. The survey indicates that the economy grew 0.4% in the second quarter and sustained this steady pace at the start of the third quarter.”
(Market News Provided by FXstreet)