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Eurozone June composite PMI keeps decreasing in July

by ChemOrbis Editorial Team -
  • 24/07/2017 (15:36)
According to the preliminary purchasing managers’ index (PMI) released by Markit Economics, the Eurozone PMI Composite Output Index decreased for the second consecutive month and hit a 6-month low in July due to a slowdown in the manufacturing sector and stability in the service sector.

The composite PMI fell to 55.8 in July from 56.3 recorded in June. The quarterly performance of the region, however, was still the best of six years on the back of the manufacturers’ stronger output growth.

The data also showed that job creation recorded the highest level over the past 10 years in July, although the growth of new orders, backlogs of work and employment were lower in July.

According to the data, in July, France and Germany recorded the strongest growth in the region although it narrowed for the second month in a row. The employment was also strong in these countries.
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