Eurozone PMI manufacturing (flash) comes in at 44.8 in June, in-line with expectations and down from 45.1 prior. PMI services (flash) comes in at 46.8, a smidge above the 46.4 consensus and the 46.7 prior reading. June's fall in business activity rounds off the worst quarter in three years.
Germany flash PMI manufacturing falls to 44.7 in June vs. 45.2 expected and prior. PMI services comes in at 50.3 vs. 51.5 expected and 51.8 prior. It's the steepest drop in German private sector output in three years. Euro reacts to the soft data: -0.4% to $1.2652.
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