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Gross domestic product in the 19-country region rose 0.6 percent in the three months through June, after increasing 0.5 percent at the start of the year.

Strategists at Morgan Stanley cautioned that a 10 percent rise in the euro could knock 5 to 8 percent off Euro zone earnings and shave about 0.7 percentage points off regional GDP growth a year later as exports fall.

The agency figures showed unemployment across the bloc dropping to a nine-year low of 9.1 percent during the period.

This was the lowest unemployment rate recorded in the eurozone since February 2009.

"All in all, the eurozone economy has rounded out the first half of the year in a very healthy state and seems to be set up nicely for continued firm growth for the rest of 2017".

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A scientist who is familiar with the project but chose to remain anonymous said: "It is proof of principle that it can work". He created the first cloned monkeys in 2007 and in 2013 created the first human embryonic stem cells through cloning.

The headline index on the IHS Markit/CIPS UK manufacturing PMI (pdf) rose to 55.1 in July, from 54.2 in June.

The findings of the latest poll are in line with a separate Reuters survey of economists published earlier in July, which showed expectations for euro zone growth was strong and a reduction in policy accommodation was in the pipeline [ECB/INT].

Job creation quickened, production picked up and order books improved, according to the poll of purchasing managers at more than 600 industrial companies. The jobless rate is forecast to remain unchanged at 5.7% in July.

"Europe's economy is really doing well, and as a result you should expect monetary policy over the medium term to adjust to that", said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets in NY. Any good data from the Eurozone is likely to make the process of tapering easy and also push the European Central Bank towards the same, much quicker than anticipated, and this is something that the market hates.

On current estimates, European earnings are expected to grow 12.4 percent in 2017, according to Thomson Reuters I/B/E/S.


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