June flash UK services PMI fell to 48.7, below expectations, while Eurozone business activity showed signs of stabilization.
The UK’s June flash services PMI dropped to 48.7, missing the 50.1 forecast and signaling a sharp slowdown in economic momentum. The decline reflects rising borrowing costs and weaker consumer demand, raising concerns about the UK’s growth outlook.
Eurozone business activity showed a slower downturn in June, with the flash PMI rising to 48.9 from expectations of 48.6. Cooling price pressures contributed to the stabilization, though manufacturing and services sectors remained in contraction territory.
The data reinforces expectations of a cautious approach from the Bank of England, while the European Central Bank may continue monitoring inflation signals amid mixed economic signals.