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- Eurozone downturn eases in June, output falls at slower rate
Eurozone downturn eases in June, output falls at slower rate
Eurozone
business activity logged the smallest downturn since March last year, flash
survey data from Markit Economics showed Thursday.
The
composite output index improved to
The
manufacturing Purchasing Managers' Index climbed to 48.7, a 16-month high, from
Similarly,
the services PMI came in at 48.6 compared to
Data showed
that manufacturing output fell in June at the slowest rate in the current
16-month sequence, registering only a very modest decline, and services
business activity showed the joint-weakest fall since March 2012.
"The
survey data suggest that GDP is likely to have shrunk by 0.2 percent in the
second quarter, similar to the fall seen in the first three months of the year
and extending the region's recession into a record seventh successive
quarter," Chris Williamson, chief economist at Markit said.
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