Economic Buzz: HCOB eurozone composite PMI stays in expansion mode for sixth straight month

Private sector activity growth across the eurozone in June was revised higher on Thursday, according to S&P Global and Hamburg Commercial Bank (HCOB), hitting its highest in three months. The HCOB eurozone composite purchasing managers' index (PMI), rose to 50.6 in June from 50.2 in May. This was above the preliminary estimate of 50.2 and was also the sixth straight month above the 50-point mark which separates growth from contraction. The upgrade was mainly due to a 50.5 revised reading for the services PMI, which was increased from the flash estimate of 50.0, up from 49.7 in May.

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