The eurozone private sector contracted for a third straight month in June, but the pace of decline eased as a modest pickup in tourism and leisure demand failed to fully offset a continued drop in new orders.
According to Jin10, an S&P Global flash estimate showed the eurozone composite Purchasing Managers' Index (PMI) rose to 49.5 in June from 48.5 in May, marking a three-month high.
Chris Williamson, chief business economist at S&P Global Market Intelligence, said the eurozone economy was showing enough resilience to nearly avoid falling into recession. He added that the June flash PMI indicated only a slight decline in business activity, suggesting second-quarter GDP would be broadly flat.
A Reuters survey published in early June forecast the economy would grow 0.1% this quarter.
New orders fell for a fourth consecutive month in June, though the rate of decline slowed. Manufacturing new orders saw a slight rebound, while weakness in services demand persisted.
Eurozone June PMI Rises to 49.5 as Private-Sector Contraction Eases
2026-06-23 16:11:03
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