Economic Buzz: Eurozone Private Sector Expands In June

Euro area composite output index rose unexpectedly to 54.8 in June from 54.1 in May, flash data from IHS Markit showed Friday. The score was forecast to fall to 53.9. While an improvement was reported from the 18-month low seen in May, the June reading represented the second-weakest expansion seen over the past 17 months. The services PMI rose to 55.0 in June from 53.8 in May. Meanwhile, the factory PMI fell to 55.0 in June from 55.5 in the previous month.