Index shows boost for eurozone

Eurozone manufacturing unexpectedly expanded in July for the first time in two years, led by Germany, adding to signs the bloc’s economy is emerging from a record-long recession.

A manufacturing index based on a survey of purchasing managers rose to 50.1 from 48.8 in June, London-based Markit Economics said.

The encouraging news contrasted with China, the world’s second-largest economy, where manufacturing weakened more than estimated in July, a separate Markit report showed.