The eurozone private sector returned to growth in July, according to provisional PMI® survey data from S&P Global. Higher output reflected a renewed increase in new orders, with staffing levels also up accordingly. Meanwhile, inflationary pressures eased but remained pronounced. There was also a lessening of supply-chain disruption which helped manufacturers to expand their stocks of inputs for the first time in three-and-a-half years. Companies were more confident in the year-ahead outlook for business activity, but sentiment remained lower than before the outbreak of war in the Middle East. Output and demand The ... (full story)