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05.08.2015 09:29

Eurozone's final services PMI decreases to 54.0 in July

Markit Economics released final services purchasing managers' index (PMI) for the Eurozone on Wednesday. Eurozone's final services purchasing managers' index (PMI) decreased to 54.0 in July from 54.4 in June, up from the preliminary reading of 53.8.

The index was driven by rises in new business and employment.

Eurozone's final composite output index fell to 53.9 in July from 54.2 in June, up from the preliminary reading of 53.7.

"The Eurozone economy showed reassuring resilience in the face of the Greek debt crisis in July. Despite a record deterioration in Greek business conditions amid extended bank closures, the overall pace of economic growth across the region barely slowed from June's four-year high," Chief Economist at Markit Chris Williamson said.

He added that Eurozone's GDP expanded 0.4% in the second quarter, according to the recent data.

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