- Services PMI 49.4 vs 48.9 prelim
- Prior 47.7
- Composite PMI 50.0 vs 49.5 prelim
- Prior 48.5
Both the services and composite prints are 3-month highs respectively, reflecting a modest recovery in business activity in the euro area to wrap up Q2 2026. New business volume may have fallen for a fourth successive month, but at least the
contraction was marginal and the joint-slowest seen over this
period (matching March).
Alongside some stabilisation in the manufacturing sector, it signals that the wider Eurozone economy has stabilised
after two months of falling output.
S&P Global notes that:
“Helping to lift the eurozone economy out of its downturn
were sharper expansions in business activity in Italy, Spain
and Ireland. While the currency bloc’s two largest nations
– Germany and France – remained in contraction, rates of
decline eased from May. In fact, the reduction in German
private sector output was only marginal.
There was a further improvement in business confidence
across the Eurozone in June, taking it further above April’s
recent low. In fact, growth expectations for the coming 12
months were their most optimistic since the outbreak of war
in the Middle East.
A marked easing of inflation rates since May was a key
finding from the latest PMI survey data. Although input
prices rose sharply and at a pace that was above the
historical trend, the rate of increase was the softest in four
months. Output charges were subsequently raised by the
smallest margin since March.”
This article was written by Justin Low at investinglive.com.