Eurozone Economy Shows Signs of Revival Amid Cooling Inflation Pressures

The eurozone's economic activity is showing signs of revival in July, according to provisional PMI survey data from S&P Global. The headline S&P Global Flash Eurozone Composite PMI Output Index rose to 51.9 in July, up from 50.0 in June.

Cost pressures have cooled sharply, dropping to their lowest levels since the outbreak of the war in February, which is helping to moderate the rate of inflation for selling prices across goods and services.