Signs of life in European economy

The enduring recession in the eurozone seems to be easing at last, with key growth indicators giving a surprisingly strong showing. A purchasing managers index for July switched to give a growth reading for the first time for 18 months. In Germany, rates of increase in manufacturing output and service-sector activity hit 17- and five-month highs respectively. France, Italy and Spain each registered a further easing of contraction, with solid growth among manufacturers.

The enduring recession in the eurozone seems to be easing at last, with key growth indicators giving a surprisingly strong showing. A purchasing managers index for July switched to give a growth reading for the first time for 18 months. In Germany, rates of increase in manufacturing output and service-sector activity hit 17- and five-month highs respectively. France, Italy and Spain each registered a further easing of contraction, with solid growth among manufacturers.

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