Eurozone momentum eases

The euro-area economy recorded its fastest expansion in six years in the second quarter, even as momentum eased in June due to weakening services activity. A composite purchasing managers’ index dropped to a five-month low of 55.7, IHS Markit said. Economists surveyed by Bloomberg had predicted the index would ease to 56.6 from 56.8 in May. Manufacturing grew at its steepest pace since 2011, while a gauge for services slipped to a five-month low.