Eurozone business activity hits three-month high in August due to Paris Olympics, despite German contraction.
Eurozone business activity in August saw a surprising three-month high due to the Paris Olympics, with the composite PMI Index rising to 51.2 from July's 50.2. The Paris Olympics led to a significant increase in French services activity, helping the eurozone economy expand at a moderate pace. However, German business activity contracted for a second consecutive month, raising concerns about the sustainability of the growth and the overall outlook for the region.
August 22, 2024
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