Although the final IHS Markit Eurozone Manufacturing PMI posted 55.1 in July, unchanged from the earlier flash estimate, this was only a minor recovery from June's 18-month low of 54.9 and over five points below the record high registered at the end of 2017.

Sector data signalled that business conditions improved across the consumer, intermediate and investment goods sectors, with mild growth upticks signalled in the latter two. Similar to the trend at the all-manufacturing level, rates of expansion were weaker than at the turn of the year in all three subindustries.