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7/1, 10:00 AM (Source: TeleTrader)
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Eurozone manufacturing PMI ticks up in June

Manufacturing activity in the euro area continued to improve in June as countries eased coronavirus containment measures, according to the latest report from IHS Markit released on Wednesday.

The Eurozone Manufacturing Purchasing Managers Index (PMI) rose to a four-month high of 47.4, after landing at 39.4 in May. However, the index still remains below the 50 point threshold indicating expansion.

"The final PMI numbers for June add further to signs that the eurozone factories are seeing a strong initial recovery as the economy lifts from COVID-19 lockdown," Chief Business Economist at IHS Markit Chris Williamson commented on the data. "Expectations for the year ahead have also rebounded sharply as hopes grow that the economy will continue to find its feet again in the coming months," he added.

Breaking the News / JC