In the eurozone, the purchasing managers’ indices (PMI) in June indicate an increased contraction in the manufacturing sector (45.6 after 47.3), and a slight decline in services (52.6 after 53.2). Harmonized inflation (HICP) in May increased (+2.6% after +2.4%). In Germany, the manufacturing PMI for June decreases (43.4 after 45.4), as well as for services (53.5 after 54.2). The ZEW survey in June shows a slight improvement in economic sentiment, with the index rising (47.5 after 47.1). In Italyinflation (HICP) fell slightly in May (+0.8% after +0.9%). In Spainthe unemployment rate increased in the first quarter (12.3% after 11.8%).
In May, in the USA, industrial production (IPI) increased (+0.9% after +0.0%). Retail sales increased slightly (+0.1% after −0.2%), while housing starts fell (−5.5% after +4.1%). The UK, the PMIs for June show a slight increase in the manufacturing sector (51.4 after 51.2), and a decrease in services (51.2 after 52.9). Inflation (CPI) in May decreased (+2.0% after +2.3%). In Japan, inflation (CPI) increased in May (+2.8% after +2.5%). The trade balance deteriorates (−¥618 billion after −¥581 billion). The June PMI indices show a slight drop in the manufacturing sector (50.1 after 50.4), and a sharper drop in services (49.8 after 53.8).
