US stocks have opened little changed as improving economic conditions in Europe were offset by a US inflation report that pointed to tepid growth.

Five minutes into trade, the Dow Jones Industrial Average lost 22.75 points (0.15 per cent) at 15,428.26.

The broad-based S&P 500 was essentially flat at 1,694.18, as was the tech-rich Nasdaq Composite, at 3,684.37.

Eurozone data showed that the economy of the 17-country bloc grew 0.3 per cent in the three months to June, exiting an 18-month recession.

The data also showed that the German economy grew 0.7 per cent, while France’s expanded at 0.5 per cent, well ahead of forecasts for just 0.2 per cent.

But US producer price data showed flat prices in July, confirming that inflation remains a minor worry.

Briefing.com analyst Patrick O’Hare said the “halting” aspect of the PPI report is that “the lack of inflation pressure isn’t really indicative of an economy that is gaining momentum.”