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- The pace of euro area economic expansion eased in July, ceding most of the momentum gained in the prior survey month
The pace of euro area economic expansion eased in July, ceding most of the momentum gained in the prior survey month
At 54.3, the final IHS Markit Eurozone PMI Composite Output Index was down from 54.9 in June and unchanged from the earlier flash estimate.
Rob Dobson, Director at IHS Markit said: "The final PMI numbers confirm the euro area economy started quarter three on a softer footing. July saw rates of expansion in both output and new orders cede the momentum recaptured in the prior survey month, returning to a picture of sliding growth rates seen through much of the year-to-date. "If the headline index continues to track at its current level, quarterly GDP growth over the third quarter as a whole would be little-changed from the softer-thanexpected expansion of 0.3% signalled by official Eurostat data for quarter two".
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