Markit’s Eurozone Flash Services Purchasing Managers’ Index showed an expansion of the EU economy this month that was not expected.  It was the first improvement in three months as the index rose to 56.7 from 56 in June.

The improvement might have been expected based on the calm market trading in sovereign debt in the region, especially debt from economically weak nations such as Greece and Portugal and the rebound in the value of the euro.

Douglas A. McIntyre