Eurozone business activity hits 11-month high in July

Eurozone business activity accelerated faster than forecast this month, supported by a solid improvement in the bloc’s dominant services industry and with manufacturing showing further signs of recovery, a survey showed this week.

HCOB’s preliminary composite eurozone Purchasing Managers’ Index, compiled by S&P Global and seen as a good guide to growth, rose to an 11-month high of 51.0 points from 50.6 in June.

That was above the 50.0 mark separating growth from contraction...