Eurozone PMI: growth in Germany, decline in France

In June, the composite index of business activity (PMI) of the eurozone in industry and services remained at the level of May – 50.2 points, contrary to forecasts of growth to 50.5. 

The index for the services sector rose to 50 points from 49.7, in line with expectations, while the industry index remained at 49.4 points, although an increase to 49.8 was expected. Values above 50 points reflect an increase in economic activity, below – its decline.

Germany showed an increase in the PMI to 50.4 points from 48.5, exceeding the forecast of 49 points. The index for services increased to 49.4 points from 47.1, and for industry – to 49, the highest in 34 months, against 48.3 in May. The forecasts were 47.5 and 49 points, respectively.

In France, the composite PMI dropped to 48.5 points from 49.3, contrary to expectations of maintaining the level. The index of services fell to 48.7 from 48.9, and industry – to 47.8 from 49.8, which was below forecasts of 49.2 and 50 points.