Euro area economy growth unexpectedly speeded up in June, Bloomberg reports with reference to IHS Markit. However, warning signals for common currency region are still there.

Composite purchasing managers’ index of IHS Markit grew to 54,8 from 54,1 in May. Average forecast of analytics was 53,9.

Growth was driven by services sector. There is still a slowdown observed in manufacturing sector.

Economists think that it is too early to hope that growth pace has recovered. Existing risks will most likely cause another slowdown in the second half of the year.

The warning came out just a week after European Central Bank announced that it will end its bonds purchasing program by the end of this year.

Manufacturing output increase was the lowest since November 2016. Export also shows slow pace.

Reports issued earlier showed that IHS Markit index for Germany grew to 54,2 and for France to 55,6. Both increases were due to services sector's activity acceleration.