Eurozone economy hits ‘speed bump’ in July

25/07/2017 07:41 AST

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 yesterday.

Analysts said that while the slip in the headline readings of the survey by data monitoring company IHS Markit was disappointing, the economy remained on its best run since the eurozone debt crisis.

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. By sector, the all important services index was unchanged at 55.4 points in July, while manufacturing fell to 56.8 points from 57.4 points in June.

IHS Markit chief business economist Chris Williamson stressed that the state of economy in the 19-nation eurozone remained “impressive”.

“It’s too early to know for sure whether the economy has merely hit a speed bump or whether the upturn is already starting to fade,” Williamson said. “The evidence so far points to the former, with the economy hitting bottlenecks due to the speed of the recent upturn,” he said.


The Peninsula

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Global Major Indices

Index Closing Change
NIKKEI 225 21,292.29 -96.29 (-0.45%)
DAX 12,002.45 -94.28 (-0.77%)
S&P 500 2,614.45 32.57 (1.26%)

Recent News

Global markets down on trade war worries

05/04/2018

Stock markets recoiled on Wednesday as China retaliated in an escalating trade war with the United States, leaving investors reluctant to take positions in anything but the safest of assets.

The Gulf Today

Egypt to meet investors this week ahead of euro-denominated bond

04/04/2018

Egypt will start meeting bond investors in Europe this week ahead of a potential euro-denominated bond issue, a document from one of the banks appointed to arrange the meetings showed on Tuesday.

Gulf News

Foreign investment in France hit 10-year high last year

04/04/2018

Foreign investment in France rose 16 per cent in 2017 to levels not seen for a decade as President Emmanuel Macron’s (pictured) bid to attract money from abroad gains pace, a government report said o

Oman Daily Observer

Japan's economy a tricky one to understand

03/04/2018

Explaining Japan’s economy to foreign audiences is hard.
One big reason for this is that explaining something as large and complex as a $5 trillion economy is an inherently difficult task - the

The National

China raises import duties on US products

03/04/2018

China raised import duties on a $3 billion list of US meat, apples and other products on Monday in an escalating dispute with Washington over trade and industrial policy.

The government of

The Gulf Today

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap