Euro zone business activity returns to growth in July for first time in four months, PMI shows

Euro zone business activity returned to growth in July for the first time in four months, driven by a rebound in new orders and stronger manufacturing and services output, an S&P Global survey showed. While the recovery suggests the bloc may regain momentum after a weak first quarter, economists cautioned that persistent inflation and renewed geopolitical tensions in the Middle East continue to pose risks to the outlook.