Eurozone growth accelerates in July: survey

BRUSSELS: Growth across the 16-nation eurozone accelerated for the first time in three months in July, well-watched research showed Wednesday.

The purchasing managers' index ( PMI) compiled by data and research group Markit rose to 56.7 in July, from 56.0 in June.

Any score above the 50-point line indicates economic growth.

London-based Markit said the data indicated a "better-than-expected start to the second half of the year."

However, Markit chief economist Chris Williamson also warned that "despite the upturn, inflows of new orders are growing at a pace well below April's peak, in part due to further signs that export growth is slowing as global trade flows cool.

"Service providers also provided the most downbeat assessment of future activity for eight months," he added.

In the service sector the PMI index rose to 56.0 points from an upwardly-revised 55.5 in June.

The manufacturing index rose more strongly, to 56.5 points from 55.6 in June.