European Services, Manufacturing Growth Weakened in June

European services and manufacturing growth slowed more than estimated in June, as the region grappled with a worsening debt crisis.

A composite index based on a survey of euro-area purchasing managers in both industries fell to 53.3 from 55.8 in May, London-based Markit Economics said today. That’s the biggest drop since November 2008. Markit had initially reported a drop to 53.6. A reading above 50 indicates growth.