Final May Eurozone services PMI rises to 47.7, exceeding preliminary estimates and signaling slower contraction in the sector.
Eurozone final services PMI for May came in at 47.7, above the preliminary reading of 46.4 and the prior month’s 47.6. The composite PMI also improved to 48.5 from an initial 47.5, though it remains below April’s 48.8.
The upward revision suggests a less severe contraction in the services sector, aligning with modest improvements in economic sentiment. Consensus estimates had anticipated a smaller upward adjustment, reflecting cautious optimism amid persistent inflationary pressures.
Markets are monitoring the data for signs of stabilization, though the PMI remains below the 50 threshold, indicating ongoing contraction.