June composite PMI rises to 49.5, exceeding expectations and signaling slower contraction in the eurozone economy.
Eurozone June flash composite PMI climbed to 49.5, above the 49.1 forecast and up from May’s 48.5, as services activity improved. The services PMI reached 48.9, surpassing the 48.6 estimate and prior 47.7, while manufacturing PMI dipped to 51.3 from 51.6 expected.
The data suggests a moderating downturn in the bloc’s economy, though still below the 50 threshold separating growth from contraction. Analysts had anticipated a slight improvement, with services remaining a drag despite recent easing in inflation pressures.
Markets may view the uptick as a sign of resilience, though concerns persist over weak demand and manufacturing softness.