Manufacturing activity was revised just marginally less weak in the final data for June. At 45.8, the updated reading was just 0.2 points above its flash estimate of 45.6. The final index for June is lower than in May by 1.5 points.

The Eurozone manufacturing economy displayed fresh signs of weakness at the end of the second quarter. The marked decrease in comparison to May suggests an accelerated contraction. The sector index fell for the fourth time in the past five months and suggests an accelerated deterioration.

The best-performing countries are Greece (54.0), Spain (52.3), and the Netherlands (50.7). All are above the 50-growth threshold. While Italy sees an improved 45.7, it joins Ireland (47.4), France (45.4), Austria (43.6) and Germany (43.5) below 50.

June's contraction in output came with a sharp deterioration in demand conditions as well as weaker sales and shrinking production requirements. Leading to declines in output and new orders. Falling backlogs also prompted a fresh drop in employment.

Today's update puts the Eurozone RPI at minus 34 and the RPI-P at minus 39. Overall economic activity is falling behind market expectations.

No revision is expected to the flash data.

The Manufacturing Purchasing Managers' Index (PMI) provides an estimate of manufacturing business activity for the preceding month by using information obtained from a representative sector survey incorporating around 3,000 companies. Results are synthesised into a single index which can range between zero and 100. A reading above (below) 50 signals rising (falling) activity versus the previous month and the closer to 100 (zero) the faster is activity growing (contracting). Released by S&P Global, national data are included for Germany, France, Italy, Spain, the Netherlands, Austria, the Republic of Ireland and Greece. These countries together account for an estimated 89 percent of Eurozone manufacturing activity.

Investors need to keep their fingers on the pulse of the economy because it dictates how various types of investments will perform. By tracking economic data such as the ISM manufacturing index in the U.S. and the S&P Global PMIs elsewhere, investors will know what the economic backdrop is for the various markets. The stock market likes to see healthy economic growth because that translates to higher corporate profits. The bond market prefers less rapid growth and is extremely sensitive to whether the economy is growing too quickly and causing potential inflationary pressures.

The S&P Global PMI manufacturing data give a detailed look at the manufacturing sector, how busy it is and where things are headed. Since the manufacturing sector is a major source of cyclical variability in the economy, this report has a big influence on the markets. And its sub-indexes provide a picture of orders, output, employment and prices.