(RTTNews) - Friday, reports said citing data released by the Markit Economics that the composite purchasing managers’ index or PMI, a measure of private sector activities in the 16-nation economy, rose more than initially estimated in June.

The reading rose to a nine-month high of 44.6 in June from 44 in May and a flash reading of 44.4.

At the same time, the services PMI climbed 44.7 from a preliminary estimate of 44.4, but it was down from May’s 44.8.

The services PMI for Germany was stable at 45.2, rising from a flash reading of 44.3. At the same time, the gauge for France’s service sector stood at 47.2, down from 48.3 in May and 47.5 initially estimated. Italy’s PMI fell to 42.3 from 43.1 recorded in May.

The CIPS/Markit PMI for U.K.’s services sector slightly eased to 51.6 in June from 51.7 in May, while it was expected to fall to 51.5.

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Posted in Categories: Economy, Eurozone, Releases.

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