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June 23, 2020, 4:06 a.m. EDT

Output's 'no longer collapsing' as eurozone PMIs rise to 4-month high

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By Steve Goldstein

The flash eurozone composite purchasing managers index rose to a 4-month high of 47.5 in June from 31.9 in May, Markit said Tuesday, though the figure was still below the 50-mark indicating deteriorating conditions. It did beat the 42.0 FactSet-compiled economist forecast. The services PMI rose to 47.3 from 30.5 in May, and the manufacturing PMI rose to 46.9 from 39.4 in May, which both were four-month highs. "Output and demand are still falling but no longer collapsing," said Chris Williamson, chief business economist at IHS Markit.

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