Eurozone Services Sector Edges Back Into Expansion in June

After a slight downturn in May, the eurozone’s services industry bounced back into growth territory in June, according to a recent report.

The S&P Global HCOB Eurozone Services Purchasing Managers’ Index (PMI) rose to 50.5 in June, up from 49.7 the previous month. This final figure also surpassed the earlier preliminary estimate of 50.0.

Since a PMI above 50 signals expansion and below 50 indicates contraction, the latest data confirms a modest recovery for the eurozone’s key services sector.

While activity rebounded, overall demand within the sector remained subdued. Nevertheless, business confidence showed some positive momentum during the month, hinting at a cautiously improving outlook.