Eurozone business recovery slowed in June, with services and manufacturing demand falling.
Eurozone business recovery slowed sharply in June, with demand falling for the first time since February. The bloc's services industry showed signs of weakening while the downturn in manufacturing worsened. The HCOB's preliminary composite Purchasing Managers' Index dropped to 50.8 from May's 52.2, confounding expectations of a rise to 52.5. Despite the European Central Bank cutting interest rates, the overall new business index declined.
June 21, 2024
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