According to CoinMeta, business activity in the eurozone rose to its highest level in eight months in July, with the recovery of the service sector combined with continuous improvements in manufacturing driving overall growth. Standard & Poor's Global Eurozone Composite PMI index rose to 52.0 in July, above the neutral level of 50.0 in June and also slightly higher than the preliminary figure of 51.9 previously released. This is the first time the index has entered an expansionary range since March. Standard & Poor's economist Chris Williamson stated that the final PMI data for July further show that, against the backdrop of ongoing conflicts in the Middle East, the eurozone economy exhibits encouraging resilience, but it also highlights that the business environment is being affected by the constantly changing geopolitical landscape.