The eurozone’s slow economic recovery appears to have weathered the initial shock of Britain’s vote to leave the EU with a closely watched survey of business activity reaching its highest level in seven months.
The purchasing managers’ index — which measures orders, production and deliveries to provide a snapshot of corporate health — rose in August to 53.3 from 53.2 in July; a reading above 50 signals economic expansion.
Coupled with a rise in a separate eurozone economic sentiment indicator, published by the European Commission, the data are the latest to confound expectations of a sharp drop-off following the Brexit vote.
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