The revival in the eurozone economy is being led by manufacturing
Private industry in the eurozone returned to growth in July, according to a closely-watched survey, boosting hopes that the single currency area will soon emerge from recession.
The Markit eurozone Purchasing Managers' Index (PMI), which measures business output, was 50.4 in July. A figure above 50 indicates expansion.
July's figure was up from 48.7 in June, and marks an 18-month high.
The eurozone has been in recession since the end of 2011.
"The best PMI reading for one-and-a-half years provides encouraging evidence to suggest that the euro area could - at long last - pull out of its recession in the third quarter," said Chris Williamson, chief economist at Markit.
He said the revival in the economy was being led by a broad-based upturn in manufacturing, and signs of stabilisation in the services sector.
But he warned that employment was continuing to fall, although at a slower rate than earlier in the year.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23432776#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
