Eurozone composite PMI falls to 16 month-low in May: Markit
The lower index figure was attributed to stagnation in the eurozone economy. According to Markit, the region’s flash services PMI index remained unchanged at 53.1 from April while the PMI for manufacturing activities in the eurozone decreased to 51.5 on a seasonally adjusted basis from a final reading of 51.7 in April. Analysts had expected these indices to rise to 53.3 and 51.9 in May, respectively.
The Eurozone economy is expected to grow by just 0.3% in the second quarter.
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