Flash PMI: Eurozone Business Activity Slides in June, Hitting 16-Month Low
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By Scott Kanowsky
Investing.com — Business activity in the eurozone slid to its lowest level in 16 months in June, as soaring inflation and rising interest rates took a bite out of demand and soured the economic outlook, according to a preliminary survey on Thursday.
Data firm S&P Global said its flash June composite purchasing managers index – which combines data from the currency bloc’s service and manufacturing sectors – slumped to 51.9 points, down from 54.8 in May, and below analyst estimates.
However, a reading above 50 still indicates expansion.
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