EZ June manufacturing downturn steeper than estimate - PMI

Eurozone manufacturing activity contracted faster in June than a flash estimate in response to the European Central Bank's tightening of monetary policy, which in turn squeezed access to finance, according to a survey published on Monday.

The S&P Global final manufacturing Purchasing Managers’ Index (PMI) fell to 43.4 from May’s 44.8, its lowest since the Covid pandemic was cementing its grip on the world, below a preliminary reading of 43.6.

A mark of 50 separates growth from contraction.

Reporting by Frank Prenesti for Sharecast.com