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Unexpected growth in the euro zone
Economy
Industry in the Euro area made an unexpected growth in July. This is the first increase for the last 2 years. This is a clear sign that the currency area's economy is recovering from the longest recession on record, news agency Bloomberg reported.
The index of manufacturing activity PMI (Purchasing Managers 'Index), which measures manufacturing and services and covers all 17 countries rose to 50.1 points in July, compared with 48.8 in June. Any value above 50 means growth.
Good news from Europe contrast with those of China. Industry's second-largest economy shrank in July, which led to doubt whether the government will be able to cope with the target in terms of economic growth.
Source: http://bg-daily-news.eu
(25.07.2013)