Eurozone Services PMI Shows Mildest Downturn Since Energy Shock in June, Input Costs Decline

The Eurozone Services Purchasing Managers' Index (PMI) rose to 49.4 in June 2026 from 47.7, indicating the mildest economic downturn since the recent energy shock. While new business fell slightly faster, firms increased backlog clearance and resumed hiring, supported by improved sentiment as energy and borrowing costs eased. Notably, input cost inflation declined for the first time since October.