The HCOB Eurozone composite PMI was revised slightly higher to 50.9 in June from a preliminary of 50.8, compared to 52.2 in May.

The reading pointed to continued growth in the private sector, although the expansion cooled to a three-month low.

The HCOB Eurozone Services PMI fell to 52.8 in June from 53.2 in the earlier month, revised higher from the preliminary estimate of 52.6, but still firmly below the initial market expectations of 53.5.

It marked the fifth consecutive month of expansion in the currency bloc’s services activity, albeit at a slower pace.

“Considering the upward revision versus the preliminary flash PMI figures, the chances are good that service providers will remain the decisive force keeping overall economic growth in positive territory over the rest of the year," Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank said.

As for prices, input cost inflation slowed to a 38-month low at the end of the second quarter but remained sharp overall. Output charges also increased at the softest pace in over three years.

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