Eurozone composite PMI falls to 17-month low in June
Markit reported that although the bloc’s manufacturing activities unexpectedly improved in June, it was not enough to offset the effects of weaker growth in the services industry. The manufacturing PMI rose to a six-month high of 52.6 from 51.5 while a sub-index measuring output was also increased to a reading of 53.8 from May’s 52.4.
Political uncertainties including Britain’s possible exit from the EU and union strikes in France are also weighing down on the region’s economic activities.
Across the region, Germany’s services PMI declined to a reading of 53.2 in June from a reading of 55.2 in May while the country’s manufacturing PMI climbed to a reading of 54.4 from May’s 52.1. France’s services PMI, meanwhile, fell to a 16-month low of 47.9 in June from a reading of 48.4 in May. France’s June services sector PMI also slid to a three-month low of 49.9 in June from 51.6 in the previous month.
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