Euro-Zone Private Sector Grows at Fastest Pace in Almost a Year

The euro area’s private sector grew at the quickest pace since last August as a three-year manufacturing downturn nears an end and the services sector gathers momentum, even as a trade showdown with the US looms.

The Composite Purchasing Managers’ Index compiled by S&P Global rose to 51 in July from 50.6 in June, further above the 50 threshold separating expansion from contraction. Analysts had predicted a reading of 50.7.