LONDON—Eurozone business growth has slowed significantly this month—and by much more than expected—as consumers concerned about soaring bills opted to stay at home and defer purchases to save money, a survey showed on Thursday.
S&P Global’s flash Composite Purchasing Managers’ Index (PMI), seen as a good gauge of overall economic health, slumped to 51.9 in June from 54.8 in May, far below the 54.0 predicted in a Reuters poll and its lowest level since February 2021.
“Euro zone economic growth is showing signs of faltering as the tailwind of pent-up demand from the pandemic is already fading, having been offset by the cost of living shock and slumping business and consumer confidence,” said Chris Williamson, chief business economist at S&P Global….
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