Reported about 1 year ago
Euro-area private-sector business activity in the euro zone unexpectedly lost momentum due to France's snap election, impacting firms. Manufacturing in the region also recorded its worst month of the year, as reflected by S&P Global's composite Purchasing Managers’ Index falling to 50.8 in June. The weaker-than-expected figures have led to expectations of interest-rate cuts by the European Central Bank and the Bank of England, with money markets implying easing in the euro area and UK. The EU's GDP is predicted to rise 0.2% in the second quarter, with expectations of cooling inflation and falling interest rates to boost consumers’ contribution to Europe’s rebound.
Source: YAHOO