Flash Euro area PMI Composite Index hits a four-year high in June | Eurobank
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Flash Euro area PMI Composite Index hits a four-year high in June

According to the flash estimate of Markit Purchasing Managers’ Index, which is based on approximately 85-90% of total PMI survey responses, Euro area composite PMI index came in stronger than expected in June registering its highest reading since May 2011. The upturn in the Euro area Composite Index to 54.1 in June from 53.6 in May was mainly driven by the services sector, which increased to 54.4 from 53.8 in the prior month. As far as the manufacturing sector is concerned, the corresponding PMI index rose as well albeit at a slower pace, coming in at a 14-month high of 52.5 from 52.2 previously.