Mumbai, July 3 -- The eurozone economy stabilised in June after two months of contraction, with improving business confidence and easing inflationary pressures helping support activity, according to the latest S&P Global PMI survey.
The S&P Global Eurozone Composite PMI Output Index rose to 50.0 in June from 48.5 in May, moving back to the 50.0 no-change mark for the first time since March. Growth in manufacturing offset a slower decline in the services sector, while stronger activity in Italy, Spain and Ireland helped balance continued, though easing, contractions in Germany and France.
New business declined for the fourth consecutive month, but the pace of contraction eased. Export orders also continued to fall, although at a slower rat...