Economic news

Business growth eases in euro zone in July

Business expansion in euro zone was slow in the beginning of this quarter, which is in line with forecasts, as fallen number of new orders weighed on mood in private sector, according to a survey released today.

Despite moderation in growth rate, it was still solid and would hardly make ECB officials change their mind on their stimulus program, as the previous week’s announcement said it would be terminated.

Composite Final PMI of Euro zone by IHS Markit, regarded as a go-to indicator of economic situation, slightly receded last month to 54.3, with June figure being 54.9, while levels higher than 50 denote expansion.

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