Growth in the euro area economy continued to pick up at the end of the second quarter, although the pace of expansion slowed and growth fell to a three-month low. Activity growth was held back by a fall in demand, as new orders declined for the first time since February. The weaker sales performance in June was particularly noticeable in foreign markets. According to new survey data, price pressures eased across the euro area, with input cost and output price growth rates falling to five- and eight-month lows, respectively, but still above pre-pandemic trends.