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Updated · Bloomberg · Jul 24Euro-Zone Composite PMI Jumps to 51.9, Topping 50 for First Time Since March
3 articles · Updated · Bloomberg · Jul 24Summary
- Euro-area private-sector activity rose to a five-month high in July, with the composite PMI climbing to 51.9 from contraction territory.
- The reading beat nearly all economist forecasts in a Bloomberg survey, whose median estimate had pointed to only a slight increase to 50.2.
- July's rebound returned business activity to pre-Iran-war levels, suggesting stronger momentum across the bloc than expected.
- The latest escalation in the Iran conflict still threatens to hit sentiment again, clouding whether the recovery can be sustained.
Insights
Can Europe's fragile economic rebound survive the looming threat of another Middle East energy shock? Will the unexpected July economic surge force the ECB into a drastic rate hike by September?