LONDON -- A closely watched survey is showing that the 19-country eurozone economy has brushed aside any negative fallout from Britain's vote to leave the European Union -- at least in the near-term.
Financial information company IHS Markit says its composite purchasing managers index -- a broad gauge of activity across the manufacturing and services sector -- rose in July to a six-month high of 53.2 from 53.1 the previous month. It was also higher than the initial estimate of 52.9.
Anything above 50 indicates expansion. However, the firm says the current level is consistent with modest quarterly economic growth of 0.3 per cent.
IHS Markit's chief economist Chris Williamson said Wednesday that the modest increase was "especially encouraging as it suggests the region saw little overall contagion from the UK's 'Brexit' vote."
