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Investing.com -- The euro zone economy showed no growth for the second consecutive month in June, according to a survey released Monday.
HCOB’s preliminary composite euro zone Purchasing Managers’ Index (PMI), compiled by S&P Global, remained at 50.2 in June, unchanged from May’s reading.
This figure sits just above the 50 mark that separates growth from contraction, and fell short of market expectations of 50.5.
The survey, which is considered a reliable indicator of economic growth, revealed that the bloc’s dominant services industry displayed only minimal improvement, while the manufacturing sector showed no signs of recovery.
The data suggests the euro zone economy continues to struggle with gaining momentum as the second quarter comes to a close, with economic activity essentially stalling for two straight months.
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