Most of the world is already well on its way to recovery, with big rallies expected during 2021. However, The speed of this reactivation is not the same in all countries, even in developed countries.
In this way, while in the past months it was the United States that provided the greatest dynamism in its production and service activities, while Europe began last year, it now appears that it is. The eurozone is gaining momentum, while the country headed by Joe Biden has lost part of the trend.
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This can be seen in the latest data of the Manufacturing PMI, because in the case of the euro countries, this indicator showed its greatest progress in 21 years, namely since July 2000.
According to IHS Markit’s private sector index, this number rose from 59.2 in June to 60.6 in July. “Eurozone business activity grew at the fastest pace in 21 years in July as the economy continued to reopen after restrictions imposed by the coronavirus.The company said.
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Meanwhile, the same indicator in the United States presented a new decline, the second in a row, to 59.7 in July, compared to 63.7 it gave in the previous month. It must be said that the US data was lower than what analysts had expected.
Another country that showed a slowdown in the last month was the United Kingdom, whose PMI was 62.2 in June, but fell to 57.7 in July.
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It’s worth remembering, yes, that Any data above 50 means expansion in the private sector.