Eurozone private sector output shrank at the steepest pace in three years in June, a survey by Markit Economics showed Thursday.
The flash Eurozone Composite Output Index remained at 46, unchanged from May's 35-month low. Economists expected a decline to 45.5. A PMI reading below 50 signals contraction in activity.
The services activity index,meanwhile, improved to 46.8 from 46.7 in May. However, the reading remained in negative territory. The reading was expected to fall to 46.4.
The purchasing managers' index for the manufacturing sector dropped to a 36-month low of 44.8 in June from 45.1 in May, in line with expectations. The manufacturing output index fell to a 37-month low of 44.4 from 44.6 in May.
by RTT Staff Writer
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