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Eurozone Economy Enters Third Quarter With No Pickup in Sight

  • Composite PMI dropped to 54.3 in July from 54.9 in June
  • IHS Markit cites weakening order growth, fading optimism

The euro-area economy dispelled hopes of stronger momentum in July, with a slowdown in activity signaling that growth going forward might be sluggish at best.

A Purchasing Managers’ Index for manufacturing and services dropped to 54.3, ceding most of the ground it gained in June, IHS Markit said.