Eurozone business activity contracted for a second consecutive month in June, according to surveys released Monday, deepening concerns that the bloc’s economy is losing momentum.

The latest readings suggest demand remained weak across the currency union, with companies still facing a challenging environment after a period of sluggish growth. Economists and investors are watching the data closely for signs that the slowdown could linger into the summer.

Survey-based indicators such as purchasing managers’ indexes are often used as early signals of economic direction before official output figures are published. The June results point to continued pressure on businesses as they navigate softer orders and cautious customers.

The repeated decline adds to the case that the eurozone is struggling to regain stronger traction. Analysts will now look for whether upcoming data confirm a broader cooling in activity or whether the bloc can stabilize in the months ahead.

Surveys

Eurozone activity shrinks again in June, surveys show