The weakness of the eurozone economy may prompt the European Central Bank to reconsider its tight interest rate policy, market participants expect. As fresh statistical data showed, business activity in the region in the second quarter intensified its decline - the PMI index fell to 47 points. Its presence below the threshold of 50 points is an indicator of economic decline. This is reported by investing.com with reference to Bloomberg agency.

The leading economy of the region - German - showed the most rapid decline in business activity since the beginning of the coronavirus pandemic in 2020, when there was a complete shutdown of the economy. Britain's private sector contracted, the first decline in more than six months. And in France, the manufacturing sector fell for the third consecutive month. In the eurozone services sector, contrary to analysts' expectations, there is a decline in activity - previously, demand in this sector was stable, and market participants believed that the industry would strengthen.