Fragile eurozone recovery exposed

Eurozone manufacturing and services activity weakened in June amid a further slowdown in France’s economy, underscoring the fragility of recovery in the 18-nation region.

A Purchasing Managers Index for both industries slipped to 52.8 in June from 53.5, Markit Economics said. That’s the 12th month the gauge has exceeded 50, the mark that signals expansion. A measure of Chinese manufacturing rose to a seven-month high.

The euro zone is struggling to sustain a recovery that received a bleak assessment from the International Monetary Fund on June 20. Earlier this month, the European Central Bank introduced a negative deposit rate, announced targeted loans to stimulate lending and held out the prospect of asset purchases to stoke growth and inflation.