The Latest: Survey shows that the easing of Greece fears helping to shore up eurozone economy

The latest on the European economy as the European Central Bank meets to discuss its monetary policy (all times local):


10:25 a.m.

Waning concerns over a Greek exit from the euro appear to be shoring up the economic recovery across the 19-country eurozone despite renewed uncertainty over the global economy, according to a closely-watched survey.

Financial information company Markit says its monthly composite purchasing managers' index — a gauge of economic activity — rose to a four-year high of 54.3 points in August from 53.9 the previous month. The increase was also larger than the initial estimate for a more modest rise to 54.1. Anything above 50 indicates expansion.

Chris Williamson, Markit's chief economist, said the calming of so-called Grexit fears "has led to an improvement in the business environment across the eurozone."

Williamson said the indicator suggests that the eurozone is growing at a quarterly tick of 0.4 percent in the third quarter.