May’s Eurozone Composite PMI was revised higher to 48.5, exceeding the flash estimate of 47.5 and signaling slower contraction.
Eurozone’s HCOB Composite PMI was revised upward to 48.5 in May, surpassing the initial flash reading and consensus estimate of 47.5. The revision indicates a slower contraction in business activity across the region.
The prior month’s reading stood at 47.4, while economists had anticipated a modest improvement to 47.5. The index remains below the 50 threshold, signaling ongoing economic contraction but at a reduced pace.
The data may support the euro, though immediate market reactions were limited as traders await further signals on monetary policy.