Eurozone private sector shrinks again

A survey showed that private sector activity in the Eurozone continued to contract in June, but signs of improvement began to appear. The Purchasing Managers' Index rose to 49.5 points from 48.5 in May, marking the highest level in three months. Nevertheless, demand remained weak, with new orders declining for the fourth consecutive month, especially in the services sector. Germany experienced a sharp decline in economic activity. In France, the rate of contraction slowed, inflation pressures eased, and business confidence gradually increased.

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