Economic Buzz: Eurozone PMI Composite Output Index Drops To 51.9 In June

23 Jun 2022 , 03:24 PM

The seasonally adjusted S&P Global Eurozone PMI Composite Output Index fell from 54.8 in May to 51.9 in June, according to the early flash reading. While the latest reading indicates an expansion of business activity for the sixteenth straight month, the rate of growth has moderated for two consecutive months to its lowest in the current sequence of expansion. Eurozone economic growth deteriorated sharply to a 16- month low in June, according to preliminary PMI data, reflecting a stalling of demand growth. Manufacturing output contracted for the first time in two years and service sector growth cooled considerably, easing most notably for consumer-facing services. Powered by Commodity Insights