Euro zone business growth slows in June as French activity drops: - TopicsExpress

Euro zone business growth slows in June as French activity drops: PMI Markits Composite Purchasing Managers Index (PMI), based on surveys of thousands of companies across the region and seen as a good indicator of growth, was in line with a preliminary reading of 52.8, down from Mays 53.5. With new orders rising at the fastest rate for three years, the pace of economic growth should also pick up again as we move into the second half of the year. A composite sub-index covering new orders jumped to 53.1 from 52.6, its highest reading since May 2011. A PMI measuring output prices in the service industry was below the break-even level for the 31st month, coming in at 49.2 although that was the highest reading since March 2012.

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