Eurozone business activity grows, though the Middle East war darkens the outlook

The Eurozone Purchasing Managers’ Index (PMI) published by S&P Global – an important indicator of the overall economic situation – reached 51.9 this month, compared to 50 points in June. As is known, a reading above 50 points indicates growth, while a reading below 50 points indicates a decline.

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The escalation of the conflict in the Middle East has raised fears about its impact on the global economy, as oil prices are once again rising rapidly.

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