Euro-Zone Growth Grinds to Halt on Surprise German Slump
- Composite PMI drops to 50.1; economists expected 50.9
- Services growth can’t counteract manufacturing slump
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Euro-area private-sector activity barely grew this month as its top economy unexpectedly slumped.
S&P Global’s composite Purchasing Managers’ Index fell to 50.1 in July, according to data published Wednesday. While that’s above the 50 level that signals growth, it’s the worst reading since February and worse than economists had predicted in a Bloomberg survey, which saw the measure holding steady at last month’s 50.9.