The euro zone economy remained stagnant for a second consecutive month in June, according to HCOB\u2019s flash composite Purchasing Managers\u2019 Index (PMI)<\/strong> released Monday. The index, compiled by S&P Global, came in at 50.2<\/strong>, the same as May\u2019s reading and just above the 50 threshold that separates growth from contraction.<\/p>\n\n\n\n Economists polled by Reuters had expected a slightly stronger reading of 50.5. The data suggest the bloc\u2019s recovery is faltering, weighed down by persistent weakness in both manufacturing and services across several major economies.<\/p>\n\n\n\n Germany, the euro zone\u2019s largest economy, was a rare bright spot as its manufacturing sector recorded the biggest increase in new orders in over three years. However, France\u2019s economy contracted further<\/strong>, with both manufacturing and services sectors continuing to decline, dragging on the overall euro zone performance.<\/p>\n\n\n\n \u201cJune\u2019s flash PMI survey for the euro zone was consistent with the economy flat-lining,\u201d said Jack Allen-Reynolds of Capital Economics. \u201cThe weakness in activity was broad-based.\u201d<\/p>\n\n\n\nGermany up, France down<\/h2>\n\n\n\n
Services and manufacturing remain weak<\/h2>\n\n\n\n