Eurozone Preliminary Manufacturing PMI slumps to 49.6 in July vs. 51.0 expected

• Eurozone Manufacturing PMI arrives at 49.6 in July vs. 51.0 expected.
• Bloc’s Services PMI falls to 50.6 in July vs. 52.0 expected.
• EUR/USD keeps the red near 1.0140 on the downbeat Eurozone PMIs.

The Eurozone manufacturing sector activity unexpectedly contracted in July, the latest manufacturing activity survey from S&P Global research showed on Friday.

The Eurozone Manufacturing purchasing managers index (PMI) arrived at 49.6 in July vs. 51.0 expectations and 52.1 last. The index hit a 25-month low.

The bloc’s Services PMI dropped sharply to 50.6 in July vs. 52.0 expected and 53.0 prior. The indicator reached 15-month lows.

The S&P Global Eurozone PMI Composite slumped to 49.4 in July vs. 51.0 estimated and 52.0 previous. The gauge clocked its lowest level in 17 months.

more to come ...