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Financial News: Eurozone Private Sector Growth At 6-Month Low

Eurozone Private Sector Growth At 6-Month Low

08/03/2017 - 04:39:00 (RTTNews)

(RTTNews) - The Eurozone private sector grew at the slowest pace in six months in July, final survey results from IHS Markit showed Thursday.

The final composite output index fell to 55.7 in July from 56.3 in June. The score was also below the flash estimate of 55.8.

Nonetheless, the headline index has signaled expansion throughout the past 49 months. The expansion was once again broad-based by both sector and nation.

The services Purchasing Managers' Index held steady at 55.4 in July. The reading also matched flash estimate.

"The elevated PMI reading puts the eurozone economy on course for another strong quarter, the data being historically consistent with a very respectable 0.6% qr/qr increase in GDP," Chris Williamson, chief business economist at IHS Markit, said.

Germany's final composite PMI fell more-than-estimated to a 10-month low of 54.7 from 56.4 in June. The initial estimate was 55.1.

Likewise, the services PMI came in at 53.1, down from 54.0 in the previous month. The flash score was 53.5.

At the same time, France's final composite PMI slid to 55.6 from 56.6 a month ago. The reading was below the flash 55.7.

Similarly, the services PMI declined to 56.0 from 56.9 a month ago. But the score was slightly above the flash 55.9.

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