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Investing.com -- Business activity in the euro zone grew at a slightly faster pace in July compared to June, though overall growth remained sluggish amid declining demand, according to survey data released Tuesday.
The HCOB Eurozone Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, increased to 50.9 in July from 50.6 in June.
This final reading came in marginally below the preliminary estimate of 51.0.
The index, which measures activity across the euro zone’s business sectors, remained just above the 50 mark that separates growth from contraction, indicating modest expansion in the region’s economy.
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