Eurozone manufacturing hits 11-month peak: Survey

BRUSSELS: Manufacturing activity in the 16 countries using the euro rose to the highest level for 11 months in July, a survey showed on Monday in a sign of improved economic health for the eurozone.

The index of purchasing managers' activity in the manufacturing sector (PMI) rose to 46.3 points, higher than a previous estimate of 46 for the month of July in the analysis compiled by the Markit survey company.

The new level was a major increase from June when it was at 42.6 points and marked a fifth straight monthly rise in the index.

The index however still indicates a recession as it remains below a threshold of 50 which would mean a return to growth.