The United Kingdom’s services sector expanded at its fastest pace in ten months, with S&P Global’s June Purchasing Managers’ Index rising to 52.8 from 50.9 in May and well above the preliminary 51.3 reading. The upgrade pushed the country’s composite PMI to 52.0, while survey compiler S&P Global noted that selling-price inflation slowed to its weakest since early 2021, bolstering expectations that the Bank of England could resume rate cuts as soon as August. Across the euro area the picture remained patchy. The bloc’s composite PMI was revised up to 50.5, a three-month high but barely above the 50 growth threshold. Germany’s services PMI improved to 49.7 and France’s to 49.6, both signaling mild contraction, whereas Sweden surprised on the upside with its services gauge jumping to 54.6 and its composite index to 51.5. Spain continued to stand out for labour-market strength. Registered unemployment fell by 48,920 in June to 2.41 million, the lowest level since 2008. Social-security rolls swelled by 76,720, lifting total employment to a record 21.86 million. Separately, the HCOB Spain Services PMI edged up to 51.9 and the composite reading to 52.1, extending the country’s expansion streak. Outside Europe, business surveys showed diverging momentum. Saudi Arabia’s non-oil PMI climbed to 57.2, its highest in three months, while India’s composite PMI held at an elevated 61. Russia moved into contraction territory, with its services PMI slipping to 49.2 and composite to 48.5, underscoring the uneven global backdrop as the June data cycle draws to a close.
Surveys show UK economy rebounding from Labour taxes, US tariffs https://t.co/1gQqOTGb8v via @tomelleryrees @irinaanghel12 https://t.co/XUwfIgMdlz
Γαλλία: Σημάδια σταθεροποίησης στον τομέα υπηρεσιών - Αύξηση του PMI #capitalgr https://t.co/Aqv3oosIHM https://t.co/bAQFcYiY79
Ευρωζώνη: Βελτιώθηκε περαιτέρω τον Ιούνιο ο σύνθετος δείκτης PMI – Σε υψηλό τριών μηνών #capitalgr https://t.co/gTy1GcFzdg https://t.co/gzjcGiBnVY