June composite PMI 50.9 vs 52.2 in May (Il Sole 24 Ore Radiocor) - London, 03 Jul - In June, the eurozone's purchasing managers' index for the services sector fell to a three-month low of 50.9 from 52.2 in May, according to data released by S&P Global and Hamburg Commercial Bank.

The composite output index, a weighted average of services PMI and manufacturing output, also fell to a three-month low, down to 52.8 from 53.2 the previous month.

A reading below 50 signals contracting sector activity, while one above an expansion.

'Growth in the eurozone can be attributed fully to the service sector. While the manufacturing sector weakened considerably in June, activity growth in the services sector continued to be nearly as robust as the month before.

Considering the upward revision versus the preliminary flash PMI figures, the chances are good that service providers will remain the decisive force keeping overall economic growth in positive territory over the rest of the year," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

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(RADIOCOR) 03-07-24 10:12:19 (0229) 5 NNNN