Business growth in the euro area slowed in July due to trade concerns

A survey released on Tuesday showed a slowdown in growth in eurozone companies this month, while optimism eased due to a trade war with states And a low global growth.
But growth has remained strong and, with price increases, the survey should hardly worry ECB policymakers looking to abandon their restrictive monetary policy.
The initial reading of the IHS composite index of purchasing managers in the euro zone, a sign of robustness, fell to 54.3 in July from 54.9 in June, a result lower than all forecasts from a Reuters poll of 54.8 on average.
Any reading above level 50 indicates growth.
The future production index has risen from 63.4 to 63.0, its lowest since late 2016.
A PMI service sector index dominated the region's economy from 55.2 in June to 54.4, below expectations for a slight decline to 55.0.
A new sub-index of business growth was one of the lowest since the beginning of last year, rising from 54.9 to 53.7, a concern for businesses.
But the manufacturing sector performed better than expected in July. The manufacturing PMI rose from 54.9 to 55.1, exceeding the median forecast of 54.6.
The index, which is part of the composite PMI, has stabilized at 54.2.