FXstreet.com (Barcelona) - Activity in the Euro Area's services sector has failed to grow in June, as the non manufacturing Purchasing managers Index posted a sharper than expected drop from May to June.

Services PMI has declined to 491 in June from 50.6 in May, in a scale that shows expansion of the sector's activity in levels above 50, and contraction otherwise. June's reading has come out somewhat weaker than expected as market analysts had advanced a decline to about a 49.5 level.