Industrial Activity picked up in Euro Zone in July

Data released by the Markt Corporation today showed that the manufacturing PMI in the euro zone rose to 51.8 points during July, compared to 47.4 points in June, its highest level since January 2019.

The Output Measurement Index rose to 55.3 points in July compared to 48.9 points in June, its highest level since April 2018, and the employment index rose to 42.9 points in July compared to 41.3 points in June.

The economy in the euro zone had contracted at a record rate of 12.1% in the second quarter of this year, after its decline in the first quarter by 3.6% due to the coronavirus pandemic, Covid 19 and measures to close the economy.