A survey showed overall business growth in the euro area slowed sharply last month, as strong expansion in the region's dominant services sector failed to offset further deterioration in the manufacturing sector.
The HCOB Single Currency Area Composite PMI, compiled by S&P Global, which is considered a good indicator of macroeconomic health, fell to 50.9 in June (June) from a 12-month high of 52.2 in May (May).
Although slightly higher than the initial estimate of 50.8, it is the fourth consecutive month that the index has surpassed the 50 barrier separating growth from contraction.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
