Euro zone business slump eases but second quarter contraction likely: PMI

The euro zone's private sector slump has eased more than expected this month, business surveys showed on Thursday, but a continued slide in new orders suggested a full recovery is still some way off.

The data will come as good news for the European Central Bank as the decline eased across the 17-nation bloc.

Markit's Flash Eurozone Composite Purchasing Managers' Index, which makes up around 85 percent of the final reading and is seen as a reliable economic growth indicator for the bloc, rose to 48.9 in June from May's 47.7.