Economics
Euro-Area Output Unexpectedly Picks Up as Brexit Qualms Fade
- Purchasing Managers’ Index rises to 53.2 in July from 53.1
- Gauge signals little contagion from U.K. vote, Markit says
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Euro-area output unexpectedly accelerated to the highest in six months, signaling that manufacturers and services providers are shrugging off concerns that the U.K.’s vote to leave the European Union will harm business.
A Purchasing Managers’ Index for both industries rose to 53.2 in July from 53.1 in June, Markit Economics said Wednesday. A July 22 estimate was for a drop to 52.9. A reading above 50 indicates expansion.