Eurozone business activity gets boost from Olympics

Eurozone business activity showed surprising strength in August despite firms raising prices, a survey showed, potentially weakening expectations for two more rate cuts from the European Central Bank this year.

However, there were signs the upswing may be temporary, with readings flattered by a sharp rise in French services activity due to the Olympic Games.

German business activity contracted for a second consecutive month and by more than expected.

“The rise in...