Business activity in the euro area in June accelerated its growth rates

The composite business activity index of 19 eurozone countries rose in June to 54.8 points from 54.1 points in May, driven by growth in services, preliminary data from IHS Markit showed. Analysts had predicted a decline in the index to 53.9 points. In June, the indicator retreated from the 18-month low reached in May, but its value was the second lowest in the last 17 months. At the same time PMI services sector reached a maximum in June for four months, rising from 53.8 points to 55 points. The index of business activity in the manufacturing sector dropped from 55.5 points to 55 points, noting the minimum value for 18 months. In June, there was an acceleration in the growth of new orders after a slowdown in May to a minimum of 1.5 years. The pace of job creation in June was the highest since January this year. The expectation index of the relative future production fell to a minimum in 19 months.

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