Eurozone downturn exceeds forecasts in July FMTNews FMTWorld
The eurozone economy is anticipated to fall further into decline as the services sector continues to lose momentum.
That was below the 50 mark separating growth from contraction and lower than all expectations in a Reuters poll which had predicted a modest dip to 49.7. The services PMI fell to 51.1 from 52.0, its lowest since January and shy of the Reuters poll forecast for 51.5. An index measuring output, which feeds into the composite PMI, fell to 42.9 from 44.2 – a low not hit in over three years.
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