The HCOB Eurozone Composite PMI rose to 50.9 in July of 2025 from 50.6 in the previous month, tying the sharpest expansion in the Euro Area's private economic activity in seven months from March. The result was revised lower from initial estimates of 51, but remained slightly ahead of initial market expectations of a 50.8. The expansion was led by stronger activity for service providers (51.0 vs 50.5 in June) and a near stabilization for factories (49.8 vs 49.5), their least pessimistic result in three years. New orders at the aggregate level were marginally down in the period to nearly end 13 straight months of contraction, although output was higher in both sectors. In turn, the less pessimistic for new business drove firms to increase their staffing levels for the first time in five months. On the price front, input cost inflation eased to a five month low, driving firms to keep output charges unchanged following two months of declines.