Brexit will make matters worse among the economies of the old European Union. In the meantime, they are bad enough.
According to research firm Markit:
Markit Eurozone CompositePMI®
–final data Includes Markit Eurozone ServicesPMI®
Eurozone second quarter growth weakest since end of 2014
Final Eurozone Composite Output Index: 53.1 (Flash 52.8, May 53.1)
Final Eurozone Services Business Activity Index: 52.8 (Flash 52.4, May 53.3)
June saw the growth rate of eurozone economic output hold steady at a moderate pace. After rising slightly from the earlier flash estimate of 52.8, the final Markit Eurozone PMI.
Composite Output Index posted 53.1, unchanged from May. This left the average reading for the headline index for the second quarter a shade below that for the opening quarter (53.1 versus 53.2) and at its lowest level since the final quarter of 2014.