Italy service sector returns to modest growth in August – PMI

Italy service sector returns to modest growth in August – PMI

ROME, Sept 5 (Reuters) - Italy's service sector grew slightly in August after contracting the month before as inflationary pressures eased somewhat, a survey showed on Monday. S&P Global's Purchasing Managers' Index (PMI) for services rose to 50.5 in August from 48.4 in July, climbing back above the 50 mark that separates growth from contraction. The result was above the median forecast of 48.2 in a Reuters survey of eight analysts and may help allay fears of a recession over the second half of this year in the euro zone's third-largest economy. The sub-indexes for both input prices and prices…
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Egyptian non-oil sector continues contraction, at slower pace – PMI

Egyptian non-oil sector continues contraction, at slower pace – PMI

CAIRO (Reuters) - Egypt's non-oil private sector activity shrank again in July, but at a slower pace than June's two-year low, as demand remains weakened by inflation and shortages continue to put pressure on supply, a survey showed. The S&P Global Egypt Purchasing Managers' Index (PMI) strengthened slightly to 46.4 from June's 45.2, remaining below the 50.0 line that denotes growth. July was the 20th straight month of contraction. "The rate of contraction eased since June but was still sharp as several panelists found that rising prices led to a drop in client spending," S&P Global said. "In addition to weakening demand,…
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UK construction activity falls by most in over two years – PMI

UK construction activity falls by most in over two years – PMI

LONDON, Aug 4 (Reuters) - British construction companies reported their biggest fall in activity in more than two years last month, as house-builders scaled back work and civil engineering firms faced a dearth of new contracts, a survey showed on Thursday. July's S&P Global/CIPS construction Purchasing Managers' Index (PMI) also showed some easing in inflation pressures - but likely comes too late to influence the Bank of England, which economists expect to raise interest rates by half a percentage point later on Thursday.  The headline construction PMI sank to 48.9 in July from June's 52.6, its lowest since May 2020 during the…
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UK services firms slow again, price pressures ease slightly – PMI

UK services firms slow again, price pressures ease slightly – PMI

LONDON, Aug 3 (Reuters) - British services sector activity grew in July at the slowest pace since early 2021 when the country was under a coronavirus lockdown, although there was an easing of surging price pressures, a survey showed on Wednesday. The S&P Global/CIPS UK Services Purchasing Managers' Index (PMI) dropped to 52.6, a 17-month low that was down from 54.3 in June and lower than a preliminary July estimate of 53.3 as the economy struggled under nearly double-digit inflation. The combination of a slowing economy and price growth at a 40-year high is raising the stakes for the Bank of England,…
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Italy service sector contracts in July – PMI

Italy service sector contracts in July – PMI

ROME, Aug 3 (Reuters) - Italy's services sector contracted in July for the first time since January as new business fell and inflationary pressures rose, a survey showed on Wednesday. S&P Global's Purchasing Managers' Index (PMI) for services declined to 48.4 in July from 51.6 in June, slipping below the 50 mark that separates growth from contraction. The result was below the median forecast of 50.1 in a Reuters survey of 14 analysts. The subindex for new business in the service sector stood at 48.7 in July compared with 52.3 in June. Italy's manufacturing PMI, released on Monday, showed the sector contracted…
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UAE non-oil private sector picks up pace in July – PMI

UAE non-oil private sector picks up pace in July – PMI

DUBAI, Aug 3 (Reuters) - The United Arab Emirates' non-oil private sector grew in July at its second-fastest pace this year as business activity picked up on strong demand and higher sales amid some discounting, a business survey showed on Wednesday. The seasonally adjusted S&P Global UAE Purchasing Managers' Index (PMI) rose to 55.4 in July from 54.8 in June, slightly lower than May's 55.6 reading - the fastest pace of growth this year. It remained well above the series average since 2009 of 54.1. The output subindex rose to 62.5 from June's 60.7, the joint-highest for the year and above the…
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Italy June manufacturing growth slowest for two years -PMI

Italy June manufacturing growth slowest for two years -PMI

ROME, July 1 (Reuters) - Italy's manufacturing sector grew at the slowest pace in two years in June, a survey showed on Friday, as firms reported weak demand and increasingly downbeat expectations. The S&P Global Purchasing Managers' Index (PMI) for Italian manufacturing came in at 50.9, down from 51.9 in May and registering the lowest reading since June 2020. The index fell for a fourth consecutive month as manufacturing in the euro zone's third largest economy is hit by high input costs and uncertainty linked to the war in Ukraine. It was still slightly above the 50 mark that separates growth from…
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Italian services activity expands in April amid stronger demand -PMI

Italian services activity expands in April amid stronger demand -PMI

ROME, May 4 (Reuters) - Italy's services sector expanded in April at the strongest pace since November, a survey showed on Wednesday, brightening hopes for economic growth prospects in the second quarter amid reports of stronger domestic and foreign demand. S&P Global's Purchasing Managers' Index (PMI) for services rose to 55.7 in April from 52.1 in March, pushing further above the 50 mark that separates growth from contraction. The reading beat the median forecast of 54.5 in a Reuters survey of 14 analysts. The sub-index for new business in the service sector jumped to 56.0 in April from 52.6 in March. Italy's…
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French services activity growth strongest in over 4 years in April -PMI

French services activity growth strongest in over 4 years in April -PMI

May 4 (Reuters) - France's dominant services sector enjoyed its sharpest increase in activity in more than four years in April as fewer COVID-19 restrictions gave businesses a boost, although inflation remained a concern, a survey showed on Wednesday. S&P Global said its final services Purchasing Managers' Index (PMI) was 58.9 points last month, up from 57.4 in March and broadly in line with a flash estimate. Any reading above the 50 point mark indicates growth. The final services PMI number in April was the highest in any month since January 2018. A final April reading of France's composite PMI index, which…
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German services sector still on growth path in April -PMI

German services sector still on growth path in April -PMI

BERLIN, May 4 (Reuters) - Germany's services sector remained on a strong recovery path in April, buoyed by robust demand after COVID-19 restrictions were lifted, a survey showed on Wednesday. S&P Global's final services Purchasing Managers' Index (PMI)rose to 57.6 last month from 56.1 in March, reaching its highest value since August. The reading was slightly lower than a flash estimate of 57.9. "The service sector is providing a much-needed boost to the German economy at a time when manufacturing is starting to falter under pressure from renewed supply chain disruption and cooling demand for goods," said Phil Smith, Economics Associate Director…
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Euro zone business growth got boost from reopened services in April -PMI

Euro zone business growth got boost from reopened services in April -PMI

LONDON, May 4 (Reuters) - Business activity in the euro zone accelerated last month as the bloc's dominant services industry took advantage of a further loosening of COVID-19 restrictions, offsetting a near-stall in manufacturing output growth, a survey showed on Wednesday. S&P Global's final composite Purchasing Managers' Index (PMI), seen as a good gauge of economic health, rose to 55.8 in April from March's 54.9, matching a preliminary estimate. Anything above 50 indicates growth. "The euro zone economy has shown surprising resilience in the face of the Ukraine-Russia war, thanks to a renewed burst of service sector activity as virus containment measures…
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Euro zone March factory growth slumped, downturn possible -PMI

Euro zone March factory growth slumped, downturn possible -PMI

LONDON, April 1 (Reuters) - Euro zone manufacturing growth slowed sharply last month as Russia's invasion of Ukraine tightened supply chain bottlenecks, dampened demand and whacked confidence, a survey showed as soaring energy costs drove a broader surge in prices. Uncertainty caused by the invasion combined with an intensifying cost-of-living crisis suggests the bloc's manufacturing industry could slide into a recession this quarter. S&P Global's final manufacturing Purchasing Managers' Index (PMI) fell to a 14-month low of 56.5 in March from February's 58.2, below an initial "flash" estimate of 57.0 but still well above the 50 mark that separates growth from contraction. An index measuring output, which…
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French business activity grew more strongly than forecast in Feb -PMI

French business activity grew more strongly than forecast in Feb -PMI

PARIS, Feb 21 (Reuters) - French business activity grew more strongly than forecast in February, according to a monthly survey, helped by an improvement in the country's COVID-19 situation and stronger demand for goods and services. Data compiler IHS Markit said its flash Purchasing Managers' Index (PMI) for France's dominant services industry rose to 57.9 points from 53.1 in January, beating a forecast which had predicted 53.6 points for that flash February number. The index moved further above the 50 points threshold which marks an expansion in activity. The February flash PMI number for France's manufacturing sector rose to 57.6 points from…
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Scrapping of COVID curbs lifts Irish service sector growth -PMI

Scrapping of COVID curbs lifts Irish service sector growth -PMI

DUBLIN, Feb 3 (Reuters) - Growth in Ireland's service sector picked up in January as some firms reported a pick-up in trading conditions and consumer confidence following the lifting of almost all COVID-19 restrictions, a survey found on Thursday. The AIB IHS Markit Purchasing Managers' Index (PMI) was 56.2 in January, up from 55.4 in December. The rate of expansion was well ahead of the 50 mark that separates growth from contraction but among the weakest registered in the current 11-month upturn. The survey showed renewed growth in the transport, tourism and leisure sector, driven by the domestic market, including…
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UK businesses suffer January chills as cost pressures rage: PMI

UK businesses suffer January chills as cost pressures rage: PMI

LONDON, Jan 24 (Reuters) - British business activity cooled unexpectedly this month to an 11-month low but cost pressures stayed high, according to a survey that leaves the Bank of England on track to raise interest rates next week. The IHS Markit/CIPS Composite Purchasing Managers Index (PMI) slipped in January to 53.4 from 53.6. While remaining above the 50 dividing line between growth and contraction, a Reuters poll of economists had pointed to a reading of 55.0. The spread of the Omicron variant of coronavirus again hit consumer-facing companies and manufacturers said orders grew at the weakest pace for a…
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Omicron pushes UK services PMI to 10-month low – IHS Markit

Omicron pushes UK services PMI to 10-month low – IHS Markit

LONDON, Jan 6 (Reuters) - Britain's services sector suffered its biggest loss of momentum last month since the country was last in lockdown, as the spread of the Omicron variant of coronavirus hammered hospitality and travel, a survey showed on Thursday. The IHS Markit/CIPS services Purchasing Managers' Index (PMI) fell to a 10-month low of 53.6 in December from 58.5 in November, according to final data, which was a fraction stronger than a preliminary "flash" reading of 53.2. The composite PMI, which includes Tuesday's more upbeat manufacturing PMI, showed a similar move. "Mass cancellations of bookings in response to the…
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Spain’s service activity slows in Dec as Omicron spreads -PMI

Spain’s service activity slows in Dec as Omicron spreads -PMI

MADRID, Jan 5 (Reuters) - Activity in Spain's services sector grew in December at the slowest pace since April as the fast-spreading Omicron variant of COVID-19 shook consumer confidence and demand, a survey showed. IHS Markit's Purchasing Managers' Index (PMI) of services companies, which account for around half Spain's economic output, fell to 55.8 last month from 59.8 in November. It was the lowest reading since April's 54.6, although still well above the 50 mark that separates growth from contraction. Even though the service industry kept expanding, the emergence of the Omicron variant led cautious consumers to cancel bookings in…
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French services growth in December slightly below initial reading -PMI

French services growth in December slightly below initial reading -PMI

PARIS, Jan 5 (Reuters) - French services sector growth in December came in slightly below an initial estimate, according to a monthly survey, as the impact of the COVID-19 pandemic weighed on business activity. Data compiler IHS Markit said its Purchasing Managers' Index (PMI) for the services sector fell to 57.0 points in December, down from 57.4 points in November and slightly below a preliminary reading of 57.1 points. Nevertheless, the index remained above the 50-point threshold dividing an expansion in activity from a contraction. A composite PMI index which includes the services and manufacturing sectors fell to 55.8 points…
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Italian services activity growth cools in Dec -PMI

Italian services activity growth cools in Dec -PMI

ROME, Jan 5 (Reuters) - Italy's services sector continued to grow in December, but less quickly than in November, reflecting slightly slower gains in total new work, a survey showed on Wednesday. IHS Markit's Business Activity Index for services stood at 53.0 in December, down from 55.9 in November but comfortably above the 50 mark that separates growth from contraction for an eighth successive month. The figure was below the median forecast in a Reuters survey of seven analysts which had pointed to a reading of 53.9. Italy's service sector took longer to recover from COVID-19 lockdowns than the smaller…
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Euro zone economic recovery faltered in Dec as Omicron spread -PMI

Euro zone economic recovery faltered in Dec as Omicron spread -PMI

LONDON, Jan 5 (Reuters) - The euro zone's economic recovery faltered in December as a resurgence in COVID-19 infections curtailed growth in the bloc's dominant service industry, a survey showed, and could weaken further if tighter restrictions are imposed. As the Omicron coronavirus variant spread rapidly at the end of last year governments reimposed measures to contain infection rates, particularly in Germany - Europe's largest economy. That meant IHS Markit's Composite Purchasing Managers' Index (PMI), a good gauge of overall economic health, sank to 53.3 in December from 55.4 in November, its lowest since March. While the final reading was…
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Irish manufacturing growth moderates again in Dec – PMI

Irish manufacturing growth moderates again in Dec – PMI

DUBLIN, Jan 3 (Reuters) - Growth in Irish manufacturing activity eased further in December from record highs reached earlier in 2021, a survey showed on Monday, at the end of the third-strongest quarter on records going back more than 20 years. The AIB IHS Markit manufacturing Purchasing Managers' Index (PMI) fell to 58.3 in December from 59.9 in November, having hit a record 64.1 in May, the survey showed. Readings above 50 indicate overall rises in activity. From October to December, the PMI registered 60.1, down from 62.1 in the third quarter and 62.9 in the second but higher than…
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Swedish manufacturing PMI dips in December – Silf/Swedbank

Swedish manufacturing PMI dips in December – Silf/Swedbank

STOCKHOLM, Jan 3 (Reuters) - Activity in Sweden's manufacturing sector inched lower in December with the purchasing managers index slipping to 62.1 points from a downwardly revised 63.1 points in the previous month, compilers Silf and Swedbank said on Monday. The index remains well above its historical average of 54.8 points. The index for suppliers' raw material and input costs reached 87.9 points in the month. (Reporting by Helena Soderpalm; editing by Niklas Pollard)
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French recovery slows down in December as Omicron weighs – PMI

French recovery slows down in December as Omicron weighs – PMI

PARIS, Dec 16 (Reuters) - French business activity has expanded at a slower pace in December compared with last month, an initial estimate in a monthly survey of purchasing managers showed on Thursday, a trend partly due to the Omicron COVID-19 variant. Data compiler IHS Markit said that its flash composite PMI index for December, which includes both the services and manufacturing sectors, stood at 55.6 points. While readings above 50 points point to positive overall business expectations, the latest print marked a slight drop from the 56.1 recorded in November, although it still beat the consensus forecast in a…
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Omicron hits UK businesses hard in December – PMI

Omicron hits UK businesses hard in December – PMI

LONDON, Dec 16 (Reuters) - The spread of the Omicron variant of coronavirus has hammered British hospitality and travel companies this month, sending private sector growth to a 10-month low, a survey showed ahead of Thursday's Bank of England policy announcement. The preliminary "flash" IHS Markit/CIPS UK Composite Purchasing Managers' Index (PMI) sank to 53.2 in December from 57.6 in November. While still above the 50 dividing line between growth and contraction, a Reuters poll of economists had pointed to a much stronger reading of 56.4. The survey showed slower growth in new orders and price pressures - something that…
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Euro zone November business growth acceleration may be temporary -PMI

Euro zone November business growth acceleration may be temporary -PMI

LONDON, Dec 3 (Reuters) - Euro zone business activity accelerated last month but the bounce may be temporary as demand growth weakened and fears about the Omicron coronavirus variant put a dent in optimism, a survey showed on Friday. IHS Markit's Flash Composite Purchasing Managers' Index (PMI), a good gauge of overall economic health, jumped to 55.4 in November from 54.2 in October, below an earlier 55.8 "flash" estimate but still above the 50 mark separating growth from contraction. "An improvement in the rate of economic growth signalled by the euro zone PMI looks likely to be short-lived," said Chris…
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Italy services activity sees strong growth in November – PMI

Italy services activity sees strong growth in November – PMI

ROME, Dec 3 (Reuters) - Italy's services sector recorded buoyant growth in November, a survey showed on Friday, pointing to ongoing economic expansion even as rising COVID-19 infections cast doubts over the outlook. IHS Markit's Business Activity Index for services stood at 55.9 in November, up from 52.4 in October, rising further above the 50 mark that separates growth from contraction. The result was better than the median forecast in a Reuters survey of 13 analysts, which had pointed to a reading of 54.8. Italy's service sector took longer to recover from COVID-19 lockdowns than the smaller manufacturing sector, which…
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Bottlenecks continue to brake German growth, inflation mounts – PMI

Bottlenecks continue to brake German growth, inflation mounts – PMI

BERLIN, Oct 22 (Reuters) - Growth in business activity slowed in Germany in October, a business survey showed on Friday, with inflationary pressures resulting from supply chain bottlenecks at a record high. IHS Markit's flash Germany composite purchasing managers' index slipped to 52.0 in October, an eight-month low, from 55.5 the month before, with factory production volumes being held back by input shortages and a fall in decline from the automotive sector. The manufacturing output index fell to 51.1, a 16-month low, while the overall manufacturing index edged down to 58.2 from a final 58.4 in September. The services sector…
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French business activity booms as lockdown eased in May – PMI

French business activity booms as lockdown eased in May – PMI

French business activity surged in May as a coronavirus lockdown was eased, firing up the dominant service sector, a monthly survey showed this week. Data compiler IHS Markit said its purchasing managers index for services rose to 54.8 from 50.9 in April, unchanged from a preliminary reading. The re-opening of schools, non-essential stores and cafes helped the index reach its highest level since April 2018 and lifted it comfortably above the 50-point threshold dividing an expansion in activity from a contraction. IHS Markit's overall PMI index, which includes the services and already published data from the manufacturing sector, rose to…
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Euro zone business growth soared in May as restrictions eased -PMI

Euro zone business growth soared in May as restrictions eased -PMI

Euro zone business activity surged in May as the easing of some coronavirus related restrictions injected life into the bloc's dominant services industry, a survey showed, echoing data on Tuesday which showed factories had their best month on record. An acceleration of vaccine programmes across the region and a fall in reported daily cases has allowed governments to remove some measures imposed to try and stop the spread of the virus. That meant IHS Markit's final composite Purchasing Managers' Index (PMI), seen as a good gauge of economic health, jumped to 57.1 last month from April's 53.8, its highest level…
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Irish services sector growth surges to 5-year high on reopening -PMI

Irish services sector growth surges to 5-year high on reopening -PMI

Growth in activity in Ireland's services sector surged to its highest level since early 2016 in May as the country's economy began to emerge from one of Europe's strictest COVID-19 lockdowns, a survey showed on Thursday. The AIB IHS Markit Purchasing Managers' Index (PMI) jumped to 62.1 in May from 57.7 in April. That is up from a 2021 low of 36.2 reported in January and is just the sixth time the index has crossed the 50-mark separating expansion from contraction since the COVID-19 pandemic hit. Ireland reopened all retail stores, personal services and non-residential construction in May, with hotels…
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UK to see ‘eye-popping’ growth after services PMI hits 24-year high

UK to see ‘eye-popping’ growth after services PMI hits 24-year high

Britain's services sector recorded the biggest jump in activity in 24 years last month, after pubs and restaurants were allowed to resume serving customers indoors following months of lockdown, according to a closely watched business survey. Thursday's data adds to signs that Britain is enjoying a very rapid initial rebound as lockdown rules relax. The IHS Markit/CIPS Purchasing Managers' Index rose to 62.9 in May from 61.0 in April, taking it to its highest since May 1997 and above an initial estimate of 61.8. "The latest survey results set the scene for an eye-popping rate of UK GDP growth in…
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Lockdown lifting unleashes French business boom in May -PMI

Lockdown lifting unleashes French business boom in May -PMI

French business activity surged past expectations in May as the unwinding of a nationwide lockdown releases a wave of pent-up demand and sets the stage for an economic rebound, a survey showed. From Wednesday, non-essential retail outlets have been able to reopen to customers for the first time in six weeks as France gradually phases out its third coronavirus lockdown in little more than a year. Data compiler IHS Markit said its composite Purchasing Managers' Index (PMI) jumped to 57.0 points in a preliminary reading, up from 51.6 last month to hit its highest since July. The reading blew past…
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Survey indicates UK on track for recession within months

Survey indicates UK on track for recession within months

Britain's economy looks to be on track for its first recession since the financial crisis, as growth in the important services sector slows. The closely watched IHS Markit/CIPS UK Services Purchasing Managers' Index (PMI) fell to 50.6 in August. Anything above 50 indicates growth, but the latest reading is a drop from July's 51.4. The survey also revealed that business optimism is at its lowest level for more than three years. Last month, it was revealed that GDP contracted by 0.2% in the second quarter. If it were to shrink again in the third quarter, the UK would officially be…
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Gradual slowdown in Irish services growth continues in August

Gradual slowdown in Irish services growth continues in August

Ireland’s services sector last month grew at its slowest rate since January, a survey showed on Wednesday, as the impact of rising uncertainty around Brexit was evident across a number of areas. Ireland’s fast-growing economy has largely weathered the disruption created by Britain’s 2016 vote to leave the European Union but increasing uncertainty around Brexit has contributed to weaker activity in the manufacturing and services sectors. The AIB IHS Markit Purchasing Managers’ Index (PMI) for services slipped to 54.6 from 55.0 in July — still well above the 50 mark that separates growth from contraction, as it has been since…
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Gloomy outlook for Euro zone business growth

Gloomy outlook for Euro zone business growth

Euro zone business growth was weaker than expected in July, hampered by a deepening contraction in manufacturing, and forward-looking indicators in surveys published on Wednesday suggest conditions will get worse next month. The downturn appears widespread, with survey results missing expectations in the euro zone as well as in Germany and France, the bloc’s two biggest economies and the only ones to report preliminary data. That will make disappointing reading for policymakers at the European Central Bank, who are expected to signal on Thursday a bias towards cutting its already-negative deposit rate this year to try to boost growth and…
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