Olympics boost for Paris: Belgian cyclist Remco Evenepoel celebrates as he crosses the finish line under the Eifel Tower to win the men's road race. Photograph: Dirk Waem / Belga Mag / Belga via AFP via Getty ImagesGrowth in euro zone business activity stalled last month as a stuttering expansion in the bloc’s dominant services industry was compounded by a deeper downturn in the manufacturing sector, a survey showed on Monday.
In the UK, a similar survey found that growth had picked up last month, as firms recorded the strongest levels of demand for over a year.Experts said that there was a slight rebound following the result of the general election, which increased certainty for firms. Within Europe, France’s dominant services sector picked up in July – to 50.1 from 49.6 in June – helped by business from the Olympic Games. However, in Germany, the growth slowed for the second consecutive month in July – to 52.5 from 53.1 – in a further sign that Europe’s biggest economy is losing steam.“If the service sector stalls, the whole economy could slip into a recession because manufacturing continues to shrink sharply,” Mr de la Rubia said.