Euro-Area Services Grew Less Than Initially Estimated in July

Euro-area services expanded less than initially estimated last month, keeping alive concerns about the outlook for the recovery in the 18-nation region.

Markit Economics’s Purchasing Managers Index rose to 54.2 from 52.8 in June, below the 54.4 reading published on July 24. A composite index of services and manufacturing increased to 53.8, also lower than previously estimated.