Eurozone business activity weakens in May - Breaking The News

Eurozone business activity weakens in May

5 June

1 min read

EPA-EFE/FILIP SINGER

The Eurozone Purchasing Managers' Index (PMI) Composite Output Index, which calculates the combined results in services and manufacturing sectors, stood at 52.8 in May, below predictions and last month's reading, S&P Global and Hamburg Commercial Bank (HCOB) revealed in their report published on Monday.

The Services PMI Activity Index came in at 55.1, also below expectations, reaching its lowest level in two months and down from 56.2 in April. Meanwhile, activity in the manufacturing sector declined, pressured by the rapid deterioration of the order books.

"The services sector is being supported by the strong labor market, rising wages, and a tourism sector that is flourishing throughout Europe. The latter is confirmed by the New Export Business PMI, " HCOB Chief Economist Dr. Cyrus de la Rubia said.

data manufacturing services pmi

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