Euro area private sector beats forecasts in July

The euro area’s private sector improved far more than expected in July, with activity returning to pre-escalation levels after the conflict with Iran, even as the latest flare-up threatens to weigh on sentiment again.

The composite purchasing managers’ index, compiled by S&P Global, rose to 51.9, moving back above the 50-point line that separates growth from contraction for the first time since March....