The downturn in the eurozone’s services and manufacturing sectors eased in June as output fell at its slowest rate since March 2012, a survey suggests.
Markit’s composite purchasing managers’ index (PMI) for the eurozone rose to 48.9 in June, up from 47.7 in May.
The index has been below the 50 mark, which indicates contraction, for all but one of the past 22 months.
The figure was higher than analysts’ predictions. Germany saw output rise for the second successive month.
The eurozone has been in recession for 18 months, and Markit said that the latest data indicated that its economy would shrink by a further 0.2% this quarter.
“There are reassuring signs that the downturn is continuing to ease,” said Markit’s chief economist Chris Williamson.
via BBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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