Flash PMI data for May fell short of expectations in Germany and France, signaling weaker economic activity.
European equities edged lower after May flash PMI readings missed estimates in Germany and France. The German DAX slipped 0.09% as factory activity weakened, though services showed improvement. France’s CAC declined 0.19% on sharper contractions in both manufacturing and services sectors.
Economists had anticipated modest growth in both economies, following mixed signals in April. The data underscores concerns over uneven recovery momentum in the eurozone’s largest economies. Sweden’s unemployment rate, meanwhile, improved to 8.7% in April, offering a rare positive note.
Markets showed muted reaction, with investors awaiting further clarity on monetary policy and growth prospects.