Growth in Europe’s services and manufacturing industriesunexpectedly accelerated in July as concern over the sovereign-debt crisis eased and an increase in global trade spurred exports.
A composite index based on a survey of euro-area purchasing managers in both industries increased to 56.7 from 56 in June, London-based Markit Economics said today. Economists had projected a drop to 55.5, the median of 18 estimates in a Bloomberg survey showed. European stocks advanced and the euro rose against the dollar.
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