Eurozone business activity grinds to a halt amid surprise slump in Germany

S&P Global’s composite PMI fell to 50.1 in July, attributed to the lack of growth of business activity in Germany and France

A decline in German manufacturing counteracted growth in the country's services sector. Picture: iStock

Eurozone private-sector activity barely grew this month as its top economy Germany unexpectedly slumped, the latest purchasing managers index (PMI) for the EU shows.

S&P Global’s composite PMI fell to 50.1 in July, according to data published on Wednesday.