Eurozone Composite PMI Preliminary for July at 60.6... Highest Since 2021

[Asia Economy Reporter Yuri Kim] The preliminary composite Purchasing Managers' Index (PMI) for July, indicating the economic trend of Eurozone (19 countries using the Euro) companies, showed the highest level in 21 years.

According to Bloomberg and others on the 23rd, the preliminary composite PMI for the Eurozone in July was recorded at 60.6. This exceeded the market expectation of 59.9 and marked the highest level in 252 months. Generally, a PMI above 50 indicates economic expansion, while below 50 indicates contraction.

The market attributed this result to the easing of restrictions due to COVID-19, viewing that the relaxation of lockdown measures and improvements in vaccination rates had an impact.