Eurozone manufacturing PMI rose to 51.9 in July from 51.4 in June, S&P Global
said, slightly below the earlier flash 52.0. The output sub-index climbed to
52.9 from 51.7, its highest since March 2022. S&P Global noted the improvement
Largely reflects firms digesting backlogs rather than a pickup in end-market
demand. Disruption from the Middle East conflict and sharply higher energy costs
are adding operating pressure on manufacturers. S&P Global Market Intelligence
chief business economist Chris Williamson said the sector is experiencing a
degree of summer acceleration but warned this performance may prove hard to
sustain and momentum could weaken into autumn.
