Eurozone Business Growth Turns Positive, Says IHS Markit

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Business activity in the 19-nation eurozone is increasing for the first time since February, before the coronavirus lockdown, according to a survey of purchasing managers by IHS Markit.

The firm's PMI output index turned positive -- hitting 54.8 points in July compares to 48.5 in June -- and showed the sharpest rate of growth in July for just over two years.

"The data add to signs that the economy should see a strong rebound after the unprecedented collapse in the second quarter," said Chris Williamson, IHS Markit's chief business economist.