EZ PMI Shows A Slight Slowdown in Activity

Eurozone PMI surveys produced a mixed picture with manufacturing data slightly beating market expectations while the services report disappointed registering the first decline in four months. Manufacturing PMI printed at 55.6 versus expectations of 55.4 dropping slightly from 55.8 the month prior. German PMI held steady at 54.6 but French manufacturing dipped to 54.9 from 55.8 the period prior. On the services side the French economy performed better than expected with PMI readings rising to 61.6 versus 60.6 eyed while German services PMI data essentially matched forecasts at 54.6.The broad EZ Services PMI reading declined to 55.4 from 56.2 in May.