The Euro Area flash composite PMI rose to 49.50 in June from 48.50 in May, beating consensus estimates. The services PMI increased to 48.90 from 47.70, while the manufacturing PMI slipped to a four-month low of 51.30 from 51.60, missing forecasts. Output declined in both Germany and France, though the contraction eased in France while Germany recorded its fastest drop in business activity in a year and a half. The rest of the euro area saw modest output growth, the largest since the start of the year, but overall activity was weighed down by ongoing challenges in securing new orders.