The euro area's economic activity slowed into the second quarter with sector's expansion slowing according to the flash PMI Estimate, as the aggregate performance gauge, the Composite Index slowed to 55.4 from 57.8 and worse than the expected 57.0.

The drop was driven by slowing activities in the services and manufacturing sectors. The Manufacturing PMI slowed to 54.8 from 58.0 and less than the expected 57.5, and the Services PMI dropped to 55.4 from 56.7 and worse than the expected 56.5.