The growth of private sector activity in the euro zone slowed in July but remained close to the maximum level in the last four years reached in June, it was announced.

According to the company, global financial information services Markit, PMI (Purchasing Managers Index) compound of the euro zone fell to 53.7 points in July from 54.2 points in June, the highest in four years.

A PMI index below 50 points means contraction, while a higher indicates expansion of activity.

“The growth of the euro area does not seem to have been particularly affected by the different developments of the Greek crisis during the month. Businesses seem to have followed the normal course in July, as suggested by the rate of expansion of activity that remains high “, although it has slowed compared to June, says the chief economist at Markit Chris Williamson.

[Source]