Eurozone’s Composite Purchasing Managers Index rose to 54.9 points in June from 54.1 points in May, IHS Markit reports. The new orders and employment growth registered in June encourages companies to extend activities.
The highest business activity growth in June was registered in Ireland (58.1 points, 5-month high), France (55 points), and Spain (54.8 points).
The PMI of the service sector rose to 55.2 in June from its 16-month low of 53.8 in May.
The survey points to GDP growth of a bit more than 0.5% in Q2, Chris Williamson,Chief Business Economist at IHS Markit, thinks. According to Mr Williamson’s opinion, higher rates of economic growth and sharp price pressure will support ECB’s decision to curtail the program for Eurozone’s economic stimulation by the end of this year.