Euro zone business activity contracts in June

LONDON, July 5 - Euro zone business activity slipped into contractionary territory last month in a broad-based downturn across the bloc's dominant services industry and a deepening decline of factory output, a survey showed.

That was below the 50 mark separating growth from contraction for the first time since December and shy of a preliminary estimate for 50.3.contracted faster than initially thought and Wednesday's final PMI covering the services industry dropped to 52.0 from 55.1, lower than the 52.4 flash reading. "All major euro countries have again lost considerable momentum. The slowdown in business activity growth was accompanied by a weaker rise in new business, lower price increases and a decline in business expectations," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EV stocks get a broad boost after Tesla, Rivian, Nio report upbeat deliveries dataElectric-vehicle maker stocks got a broad boost Monday, after upbeat delivery and production data from a host of companies in the U.S. and China.
Source: MarketWatch - 🏆 3. / 97 Read more »

Airline stocks see broad weakness after July 4 travel disruptionsShares of airline operators traded broadly lower in premarket trading Wednesday, after travel on the July 4 holiday was disrupted by bad weather. Data from...
Source: MarketWatch - 🏆 3. / 97 Read more »