Eurozone manufacturing PMI edged up to a 16-month high of 48.8 in June from 48.3 in May, with the figure rising in every surveyed nation except Germany. Particularly encouraging was Spain, where PMI rose to 50 from 48.1, signalling the end of 25 months of contraction. In the eurozone, "output and new orders barely fell during June," says Markit. "On this trajectory, a return to growth for the sector" is possible in Q3.
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