Eurozone PMI crawled back from the brink of contraction to the 50 mark, signaling a potential change of stance from the European Central Bank towards a more wait-and-see approach.

According to China Fortune Financial APP, the overall commercial and business activities in the Eurozone last month were better than initially expected by the market. The economic growth in the region seems to have stagnated rather than entered a recession process. Data released on Friday showed that the Eurozone Composite Purchasing Managers' Index (PMI) compiled by S&P Global rose from 48.5 to 50, exactly falling on the dividing line between economic expansion and contraction indicated by the Composite PMI. Boosted by better-than-expected economic data in Germany, the final value of this Composite PMI in June was higher than the initial value of 49.5.