The Markit Flash Eurozone Composite Output Index, based on around 85% of usual monthly PMI (Purchasing Managers' Index) survey replies, rose for the first time in three months in July, up from 56.0 in June to a three-month high of 56.7. The reading signalled the second-strongest monthly increase in output for three years and the twelfth successive monthly rise. Output growth picked up in both manufacturing and services. Manufacturing continued to lead the upturn, with output showing the third-strongest rise since October 2006. Services activity meanwhile posted the second-strongest expansion since August 2007. Employment rose at fastest pace for over two years.