- Eurozone Manufacturing PMI comes in at 52.0 points in June vs. 53.9 expected.
- The bloc services PMI falls to 52.8 in June against 55.5 expected.
- EUR/USD remains negative near 1.0500 after Eurozone PMIs, which have been bearish.
The rate of expansion of the manufacturing sector in the Eurozone disappointed again in Junethe latest S&P Global research survey of manufacturing activity showed on Thursday.
Purchasing Managers Index Eurozone manufacturing PMI stood at 52.0 points in June, compared to the 53.9 expected and the 54.6 of the previous month. The index hit its lowest level in two years.
The Bloc services PMI fell sharply to 52.8 in June, compared to the 55.5 expected and the previous 56.1. The indicator reached its lowest level in five months.
The index Eurozone Composite PMI fell to 51.9 in June, compared to the estimated 54.0 and 54.8 the previous month. The indicator registered the lowest level in 16 months.
Comments from Chris Williamson, chief economist at S&P Global
“Eurozone economic growth is showing signs of faltering as the tailwind of pandemic-suppressed demand is already fading, having been offset by cost of living shock and falling consumer and business confidence.”
“Excluding the months of pandemic lockdown, June’s slowdown was the sharpest recorded by the survey since the height of the global financial crisis in November 2008.”
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
