May’s composite PMI fell to 47.5, signaling deeper economic contraction amid weaker services and manufacturing activity.
Eurozone May flash PMI data undershot expectations, with the composite index dropping to 47.5 from April’s 48.6. The decline reflects a sharper contraction in services, which fell to 46.4, below the forecast of 47.7.
Manufacturing held above the 50 threshold at 51.4 but missed the 51.8 estimate and retreated from April’s 52.2. The services sector’s weakness drove the composite reading into deeper contractionary territory.
The data suggests persistent economic headwinds, with demand softening across key sectors. Prior prints and consensus had pointed to modest stabilization, but May’s figures indicate renewed pressure.