A closely-watched report has indicated that growth across the euro zone accelerated for the first time in three months in July.
The purchasing managers' index (PMI) compiled by research group Markit rose to 56.7 in July, from 56 in June. Any figure above 50 means growth in activity.
Markit said the data indicated a 'better than expected start to the second half of the year'. But Markit chief economist Chris Williamson also warned that, despite the upturn, inflows of new orders are growing at a pace which was well below April's peak.
He said this was partly due to further signs that export growth is slowing as global trade flows cool.
'Service providers also provided the most downbeat assessment of future activity for eight months,' the economist added.
In the service sector the PMI index rose to 56 points from an upwardly-revised 55.5 in June. The manufacturing index rose more strongly, to 56.5 points from 55.6 in June.
