Area dell'Euro Pmi Composite

The HCOB Flash Eurozone Composite PMI declined to 50.1 in July 2024, the lowest in five months, from 50.9 in June and well below forecasts of 51.1. The reading signaled a near-stagnation of the Eurozone private sector as the bloc’s economic recovery continued to wane, with manufacturing weakness worsening (45.6 vs 45.8) and the services sector slowing (51.9 vs 52.8). New orders fell for the second month running and business confidence dropped to a six-month low, leading firms to halt a spell of hiring which began at the start of 2024. Meanwhile, the rate of input cost inflation quickened, but demand weakness meant that companies raised their selling prices at a softer pace. The two largest euro area economies continued to underperform the wider region. Output in Germany decreased for the first time in four months, while France posted a third consecutive monthly reduction in business activity.