Euro-Zone Activity Almost Stalls as Recession Rebound Fades
- Composite purchasing managers’ index drops to 50.3; est. 52.5
- Data are accompanied by ‘marked cooling’ of inflation pressure
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Economic momentum in the euro area almost came to a halt in June, signaling an end to the revival the bloc demonstrated since its winter downturn.
A purchasing managers index compiled by S&P Global and published Friday fell to a five-month low of 50.3, missing analyst estimates for a slight decline from May to 52.5. The slump was led by France, which has been battered by strikes, though Germany’s struggling factories also played a role.