The HCOB Eurozone Composite PMI remained unchanged from the previous month at 50.2 in June of 2025, slightly under market expectations of 50.5, according to a flash estimate. The result reflected the sixth consecutive month above the expansionary threshold, but continued to point to a muted pace of growth. The gauge for activity in the services sector pointed to stagnation (50 vs 49.7 in May), while that for manufacturing reflected an unchanged pace of stagnation (at 49.4).
New orders at the aggregate level fell marginally, although at the softest pace in the current 13-month sequence, pressured by lower export orders amid a slower euro and uncertainty of US tariffs. Hence, firms continued to deplete outstanding business, driving employment levels to rise marginally. On the price front, input cost inflation inched lower for the fourth month, although service providers raised their export charges. Looking forward, business confidence was at the highest since January.
