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Euro-Area PMI Surveys Signal Economic Activity Is Accelerating
Euro-area manufacturing and services activity strengthened in July in a sign that a recovery in the 18-nation region is gathering pace. A Purchasing Managers Index for both industries jumped to 54 from 52.8 in June, matching a three-year high reached in April, London-based Markit Economics said today. That’s the 13th month the gauge has exceeded 50, the mark that signals expansion. Economists predicted an unchanged reading of 52.8, according to the median of 22 estimates in a Bloomberg News survey. The increase in activity may be a first sign of confidence that a new round of stimulus introduced by the European ... (full story)