By Ed Frankl
Business activity in the eurozone weakened in July, falling further below the level that marks contraction, data from a purchasing managers’ survey showed Monday.
The HCOB Flash Eurozone Composite PMI Output Index–which gauges activity in the manufacturing and services sectors–fell to an eight-month low of 48.9 in July, from a downwardly revised 49.9 in June.
The reading also fell below expectations of economists polled by The Wall Street Journal, who expected the PMI to come in at 49.7.
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