Eurozone Records the Fastest Expansion in Business Activity in Over 15 Years

Source: IHS Markit

The Eurozone recorded the fastest expansion in business activity since June 2006, with the component index up to 60.4 in July, from 58.3 in June.

DAX is up +0.64%, EURUSD is down -0.13%.

• The Composite Output Index rose to 60.2 in July, from 59.5 in June, slightly below a preliminary “flash” estimate of 60.6, and marked the fifth consecutive month of expansion.
• Germany led the growth, with expansion in activity hitting a record high, while France and Spain had softer rises in output. 
• Job creation rose at a fast rate in Germany and Italy, although it cooled in France and Spain.
• Input costs surged at the strongest rate since September 2000, but the pace cooled, with output charge inflation unchanged from June.
• Businesses remained optimistic of conditions in the next 12 months, but the confidence fell to a four-month low.