Euro area PMIs – Germany outperforms

The composite Purchasing Managers' Index (PMI) for manufacturing and the services sector in the eurozone remained at 50.2 in June, as in the previous month, while economists surveyed beforehand had expected a slight recovery. The development in the individual member states varied greatly. While the composite PMI in Germany rose noticeably (from 48.5 to 50.4), it fell in France from 49.3 to 48.5.

With no change in June, the sentiment indicator for the eurozone continues the sideways movement it showed since the beginning of the year. The indicator is just within the range in which the economy has grown slightly in the past. Today's figure once again suggests that the euro area economy will grow only slightly in the current year.

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