The private sector of the euro area in June showed the fastest growth in the last 7 months due to the rise in the services sector. According to preliminary data from Markit Economics, the composite index of business activity in the industrial and service sectors of the euro area was 52.1 points, rising from the May value of 51.8 points. Economists had not expected a change in May. The service sector recorded an increase in business activity to 53.4 points from 52.9 points, exceeding the growth predicted by experts to 53 points. At the same time, the growth of the index in the industry of the euro area to 47.8 points from 47.7 points a month earlier did not meet market expectations. Economists had predicted the index at 48 points. Chris Williamson, IHS Markit Chief Economist, pointed out that weak business expenses, investments and moods were caused by concerns about the growing geopolitical risks and the consequences of trade wars.
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