Economic Buzz: Eurzone Private Sector Grows At Slowest Rate In One And Half Years

Eurozone private sector grew at the slowest pace in one-and-a-half years, as initially estimated, in May, final data from IHS Markit showed Tuesday. The composite output index dropped to 54.1 from 55.1 in April, The headline index has nevertheless signaled expansion in each of the past 59 months. The services Purchasing Managers Index declined to 53.8 from 54.7 in the prior month. The reading was just below the flash reading of 53.9.