Business growth in the euro area accelerated in June to a maximum level since November 2018


According to the IHS Markit, in June the euro area showed the highest business growth since November 2018. The corresponding composite index was 52.2 points last month. Its value has grown relative to the May level of 51.8 points. In the services sector, the index rose to 53.6 points from 52.9 points. Its rate was the highest since October last year. However, the decline in activity in the manufacturing sector could not be stopped. The main growth driver for the composite index was the continued expansion of new orders. In June, the indicator grew at the fastest pace since November. Employment growth continued in the euro area, where Germany and Ireland became leaders in this indicator. Last month, there was a minimum purchase price increase since September 2016 and a moderate increase in selling prices. The survey data indicated that the growth of the euro area economy in the second quarter was slightly higher than 0.2%.


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