The eurozone composite purchasing managers’ index (PMI), which encompasses the industrial and services sectors, fell from 52 in June to 49.4 in July, hitting a 17-month low. below the 50 barrier that signals a contraction in activity, according to preliminary data released this Friday (22) by S&P Global.
The composite PMI preview frustrated analysts polled by the Wall Street Journalwhich predicted the composite PMI to decline to 51 this month.
Only the euro zone industrial PMI dropped from 52.1 to 49.6 in the same period, touching the lowest level in 25 months.
In this case, the market consensus was also down to 51.
The bloc’s services PMI decreased from 53 in June to 50.6 in July, with a reading above 50 still indicating slight expansion in the sector.
Analysts’ projection, however, was down to 52.
Source: CNN Brasil
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