The index Euro zone preliminary manufacturing PMI has remained at 63.1 for the second consecutive month in June, improving the 62.1 expected by the market.
The services PMI has risen to 58 from 55.2 the previous month, topping the estimated 57.5. This is the best result obtained by the indicator in 41 months, specifically since January 2018.
According to IHS Markit, the Eurozone business activity grew at the fastest rate in 15 years in Juneas the economy reopened further from virus-fighting restrictions and progress in vaccines boosted confidence. Prices charged for goods and services increased at an unprecedented rate. However, demand continued to exceed supplya.
Despite companies hiring additional staff at the steepest rate for almost three years, June saw a record rise in backlogs and a
widespread depletion of warehouse inventories.
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